Posted on 07/06/2014 8:14:24 PM PDT by blam
Tyler Durden
07/06/2014
Submitted by Adam Taggart via Peak Prosperity,
This week's podcast sees the return of Mike Maloney, monetary historian and founder of precious metals broker GoldSilver.com.
Based on historical patterns and the alarming state of our current monetary system, Mike believes the fiat US dollar is in its last years as a viable currency. He sees its replacement as inevitable in the near term -- as in by or before the end of the decade:
All of this is converging with the crazy experiments the Federal Reserve has done.
I absolutely believe that there are economic consequences to this that are inescapable. The Fed is not just in a box; a trap has been set. And before the end of this decade, if there is still a US Dollar around it will not be this US Dollar. It will be a dollar that is tied to a very different monetary system.
The last three shifts in our monetary system were little baby steps off of the classical gold standard where it was fully backed. We went down to a 40% reserve ratio with the Federal Reserve in the United States during the Gold Exchange Standard. Then the Bretton Woods system didn't have a reserve ratio specified, but I believe the dollar was about 8% backed by gold by the time Nixon took us off of gold in '71. Now, the only backing that the US Dollar has is the promise to tax us all in the future: it is US Treasury bonds, or the Fed doing its quantitative easing and buying mortgage-backed securities.
And how corrupt is the notion that you can give some entity the power to have a check book that has a $0 balance and they can go out
(snip)
(Excerpt) Read more at zerohedge.com ...
M4D-D
I take whatever a person who sells gold and silver for profit with a very large grain of salt.
This is precisely the reason why conservatives should be prepared and armed.
The edge of America is close. Society is about to see a Rome-esque breakdown, and there will be three camps. The hordes of former welfare queens looting anything they can find, the far left Marxian wing in all its ugliness, and us.
Bill Ayers stated it would be necessary to ‘liquidate’ the opposition in camps if they refused to be re-educated. Is that where you want to be? Or would you rather see Ayers and company face public trial and whatever comes next in a new America devoted to restoring the Constitution and the values that made this country great.
Platinum seems to be absolutely leashed to the price of gold, rhodium has enough industrial users to override any investor spikes.
I agree that the metals market is important to the prepper. I'd look towards a major investment in lead, with minor positions in brass and copper jackets. Ammo can protect what you have, barter for what you don't, and won't feel as bad as handing over an ounce of gold for a loaf of bread.
Never ask a guy who sells tires if you need tires.
bookmarked
We don’t know when the economic SHTF will happen, we don’t even have a idea of how it will play out. We just know it will be very ugly and we average Joe Americans that are still working and paying taxes right now are probably going to suffer the most.
How’s that for a Greek tragedy?
Listened to it, difficult. Verses don’t rhyme, back round music was cacophonous. Nothing made sense. What are you trying to say?
If the US will die, it will be slow, and you will know when the rich will rebel to hide their wealth. Look at Nicaragua when the Sandanistas took over.
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That would be wise.
It would be equally foolish to dismiss the truth of what he says just because he may be able to profit from what he has been studying and preparing for and preaching about for years.
The dollar is a dead man walking.
Read The Creature from Jekyll Island, if you haven’t. This is what central banks do.
And I suspect the puppet masters will allow one more leftist DemocRat to win the White House (likely Mrs. Bill “Impeached” Clinton) and then a Republican so that it crashes with a Republican, so the socialists can blame capitalism and the free market for the destruction they are deliberately causing.
Years ago, some guy was trying to sell me some gold. I told him when the SHTF, lead would be more valuable than gold.
Yep. Furthermore, I take everything posted on Zero Hedge with a grain of salt. I like the site, and the comments there rival FR for sarcasm and humor. But Zero Hedge is always - and I mean always - predicting the collapse of something or other.
In many respects that is already starting when you consider how the banking systems and economies are stacking up worldwide. There's much shuffling around as nation leaders are growing more and more ‘restless’ with the US Dollar maintaining the power and leverage it does....especially regarding sanctions that the US continues to hold sway over nations, either by imposing them or strong-arming other nations to agree and support them when they do.
Trial? If it all really comes apart, there aren’t going to be any trials.
Lord, what do we do?
we’re still working and paying taxes....
I don't think one should ever be so cavalier about gold as to equate it to a loaf of bread. An ounce of gold has always been equivalent to a month's manual labor, or the finest suit of clothes the market has to offer. And it always will be that. Its scarcity, reliability and desirability are gold's traditional secret to being the most compact store of liquidity and value known to man.
Yes, gold has its fanatics who make absurd claims, and yes, gold has its detractors who studiously refuse to understand its time-honored traditions. Neither are particularly correct; but to ignore gold is to be left out in the cold at crunch time.
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