Monday, May 30, 2016
at 11:00:00 AM
Tuesday, May 24, 2016
Tuesday, May 10, 2016
James Turk believes the time we live in now will be studied by future historians for generations to come. Just as we today marvel at the collective madness that resulted in the South Sea and Dutch tulip manias, our age will be known as the era when society lost sight of what money really is.
And as result, the wrong kinds of wealth -- today, that's mostly financial assets -- are valued and pursued. And just like those bubbles from centuries ago, when the current asset boom goes bust, the value of paper wealth will vaporize.
In contrast, those holding tangible productive assets or real money will fare much better on a relative basis.
James and co-author John Rubino (of DollarCollapse.com) have recently published a new book covering the details of this prediction called The Money Bubble: What To Do Before It Pops. Within it, they delve into the reasons for why the world is destined for what Ludwig von Mises termed a "crack up boom".
at 12:54:00 PM
Friday, May 6, 2016
Turk also says there is way too many paper promises for the actual physical gold that can be delivered. So, in the future, Turk says, “I see a lot of these promises to deliver gold being broken and, ultimately, the only way you are going to see this being resolved is with a much higher gold price.” How high? Turk estimates, “You’ve got to be looking back to the all-time highs of $1,900 or $2,000 per ounce. We are eventually going to take those out. It’s just a question of when we do it. It’s obvious it is going to happen because gold has been money for 5,000 years and, ultimately, people will come back to gold when they realize that all these promises of bankers and central bankers really cannot be fulfilled. So, it is just a question of when that reconciliation comes. In March of 1968, the dam broke and the gold price was released and the gold price climbed for another 12 years. When the gold price finally gets released this time around, it’s going to climb for many, many more years. It’s hard to say how high it can go, but relative to the amount of paper that’s out there . . . a price several times higher than what we have today seems very, very reasonable in the long run.”
at 12:53:00 PM