Sunday, December 29, 2013

The Gold Price and Its Cycle

James Turk and Michael Maloney of describe the gold price cycle in this video.

- Source, GoldMoney:

Tuesday, December 24, 2013

James Turk - Hyperinflation in Argentina

GoldSeek Radio's Chris Waltzek talks to James Turk of GoldMoney. They speak of Argentina, gold, silver and hyperinflation.

- Source, Gold Seek Radio:

Friday, December 20, 2013

It Does'nt Make Sense to Save National Currencies

What I've been recommending since I started Gold Money back in 2001, is that you accumulate gold and silver on a cost averaging basis. In other words, if you want to put in $500 every month of savings, or $50 a month of savings, whatever the number is, on a certain day of the month you buy that $500 or that $50 of gold or silver, and you just do that month after month, after month on a consistent basis. And view that accumulation of precious metals to be your savings.

It doesn't make sense to save any national currency any more because you don’t get the interest income to offset the risks. But savings are important for everybody in order to plan and prepare for a future which is uncertain and a future which no one can predict.

But we know that we’re heading on the wrong road. We know that we’re heading toward the cliff. So you have to be prepared for the contingencies that might arise. And the best way to do that is to go to the assets that are proven and time tested. And the proven and time tested assets throughout monetary history are gold and silver.

- Source, James Turk via:

Sunday, December 15, 2013

Monetary Collapse is a Reality

Portfolio management is very much a personal decision. Everybody approaches it in very different ways because everybody’s subjective judgement is different. But the bottom line is that you have to do what you need to do to sleep well at night. And in my mind, the best way to sleep well at night with all of this uncertainty going on in the world, is to have to some physical gold and physical silver tucked away because they are your go to assets in the case of a monetary collapse or other problems.

And history has shown that monetary collapses are a reality when you go in the wrong direction. You can’t predict when you’re going to go over the cliff, but you know that if you’re heading toward the cliff, sooner or later you’re going to go over it.

- Source, James Turk via:

Thursday, December 12, 2013

This System is NOT Sustainable

If you look at the numbers, I just saw something, 57% of the American population, in some way, is dependent on some level of government, be it federal, local, or state government. So you've already got more than half the people who are tax eaters, and only 43% of the people who are tax payers. Obviously that situation is not sustainable. It could go on longer. But ultimately, you’re going to destroy economic activity.

The underlying reality of this is that the government doesn't create wealth. They can pump up the GDP numbers by borrowing and spending money, but it doesn't create wealth. Wealth is created by the private sector. All the government does is take wealth away and redistribute it. And if you end up taking too much wealth, if you end up pulling out too many feathers from the goose, the goose is going to start squawking, and all of a sudden the economy is going to collapse.

And I think we’re really seeing that now. The economy has been declining slowly. But we’re in, if not a depression, a very, very severe recession. And basically have been since the collapse in 2008. And the reason why I say that is that, if you look at the median income of the average American adjusted for a true rate of inflation, he’s no better off now than he was ten years ago. In fact, he’s worse off now than he was ten years ago.

So, until you get median family income adjusted for inflation, higher than it was prior to the collapse of 2008, you can’t say that the economy is doing well. It’s doing poorly, and is likely to continue doing even worse given the fact that the government is really just taking, taking, taking. And there’s only so much that the private economy has to give before the private economy collapses.

- James Turk:

Sunday, December 8, 2013

James Turk Retirees As GoldMoney Chairman

The Founder and Chairman of GoldMoney, James Turk has retired as Chairman. Mr Turk will continue to serve on the board as a non-executive director utilising his valuable knowledge gained from 45 years of experience in international banking, finance and investments.

Mr Turk confirmed that his retirement from the active role of Chairman will enable him to focus on personal commitments. This will include a new book to follow up the success of the ‘The Collapse of the Dollar’, and to write content for his personal website (

The Board has elected Jersey resident, Patrick Delafield, a long-standing GoldMoney non-executive director, as its new Chairman with immediate effect. Mr Delafield holds an MA in Law from the University of Cambridge and has travelled widely in both Western and Eastern Europe and the Middle East in the fulfilment of a number of senior roles in several major companies. He has lived in Jersey for over 30 years and has served as a non-executive director and/or chairman for other internationally focused businesses. Mr Turk said: “I look forward to working with Patrick and the other members of the board to ensure GoldMoney’s continuing success.”

Mr Turk founded GoldMoney in 2001 with his son, Geoff, to use the Internet to provide a convenient way to buy and store precious metals. Since then demand for physical bullion has grown, and GoldMoney has been at the forefront of supplying and storing precious metals. It currently safeguards more than US$1.6 billion of assets on behalf of over 22,000 customers from around the world.

CEO Geoff Turk said: “We remain extremely grateful to James for his vision and leadership in the creation of GoldMoney and its ability to enable individuals, companies and institutions in the global marketplace to conveniently and safely preserve purchasing power by diversifying their wealth with precious metals. “We will now build on this solid foundation in the months and years ahead. We are also, of course, delighted to have the benefit of James’ continuing involvement as a director, as he starts to enjoy his hard-earned retirement.”

- Source,