What Should We Expect? What Should We Do?
Guest Post by Dennis Miller at Miller On The Money
With the election behind us, both sides are marking their territory. Last week Chuck Butler and I began discussing what to expect. I’m a believer that those who accept change/trouble as a normal part of life, while doing their best to survive when things happen, end up both happy and prosperous. Let’s avoid the political and media hoopla and stay focused on protecting our life savings.
Our interview continues….
DENNIS: Chuck, we discussed how the USD is losing the status of world reserve currency. Inflation, deficit spending and less world demand will cause the USD to lose value. What can We The People, as individuals, do to counter that?
CHUCK: Gold is the universal currency, holding its value while paper money always loses value. There are no gold-backed currencies in the world today. That’s why Gold went on a 50% gain in the past couple of years…
What can We The People do? My first comment is always – Got Gold? The key to protecting wealth is owning assets that hold their value when paper money goes down the drain. Some foreign currencies will appreciate while the dollar continues down – but gold should come first.
DENNIS: Since the election, the gold price has dropped and we have seen a lot of volatility. You recently explained:
“You need the insurance as long as you are at risk. The risks of inflation are as bad as I have ever seen – therefore we should hold our insurance.”
While Trump may help ease some of the war tension in the world, causing the price to decline, do you recommend any changes for those holding gold?
CHUCK: Changes??? Yes, it’s even more important now that we own and hold physical Gold & Silver.
We’ve seen these engineered takedowns of Gold & Silver since these two metals began their rise in 2000. Everyone needs to calm down, and not panic here…
For years I’ve felt that the U.S. Gov’t. is behind the price manipulation of Gold & Silver. They decided, after Nixon took the U.S. off the Gold Standard, that the Gov’t needed to do something to keep Gold from getting more popular than the dollar. The scheme was for major Banks with commodity desks to undertake price manipulation, without threat of prosecution.
In 2001 Peter Warburton let the cat out of the bag:
“What we see at present is a battle between the central banks and the collapse of the financial system fought on two fronts. On one front, the central banks preside over the creation of additional liquidity for the financial system in order to hold back the tide of debt defaults that would otherwise occur.
On the other, they incite investment banks and other willing parties to bet against a rise in the prices of gold, oil, base metals, soft commodities or anything else that might be deemed an indicator of inherent value.
Their objective is to deprive the independent observer of any reliable benchmark against which to measure the eroding value, not only of the US dollar, but of all fiat currencies.
Equally, they seek to deny the investor the opportunity to hedge against the fragility of the financial system by switching into a freely traded market for non-financial assets.”
The only thing to send the price manipulators home with their tails between their legs is for everyone to buy physical Gold or Silver. That would drive their short positions into losses, and cause them to leave….
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