Sunday, July 28, 2013

Western Central Planners Will Ultimately Fail

"The dis-hoarding by central banks has caused the gold price to drop precipitously, but the central bank's use of gold makes clear gold's greatest attribute, which is the exceptional liquidity gold provides. Gold is money, and in this case it is rainy-day money in the sense that if I am right about how it is being used here, it is giving insolvent banks a lifeline. 
The net result is that gold continues to flow from the West to the East where it is more highly valued. But even if desperate Western central banks are dis-hoarding gold in order to bail-out insolvent commercial banks, don't take your eye off the ball. Keep accumulating physical gold and silver because they have always stood the test of time as the world’s only true money. All of these schemes by Western central planners will ultimately fail and the current financial system will end in disaster. As the system implodes, one of the only things left standing will be physical gold and silver."

- James Turk via King World News: