Close X Cookies are necessary for the proper functioning of 24hGold.com. By continuing your navigation on our website, you are accepting the use of cookies.
To learn more about cookies ...
EnglishFrench
Gold & Silver Prices in

Peter Daniels Talks On "Gold"

IMG Auteur
Published : May 04th, 2010
1581 words - Reading time : 3 - 6 minutes
( 4 votes, 5/5 )
Print article
  Article Comments Comment this article Rating All Articles  
0
Send
0
comment
Our Newsletter...

 

 

 

 

By anybody’s standards Peter Daniels has a most amazing "rags to riches" story.

 

At the age of 26 Peter was an illiterate bricklayer, from a 3rd generation welfare recipient family. Today he has involvement in business than spans the globe, has chaired boards of directors, advised corporations and governments and written several books.
When asked if there was one key factor that brought about this change, Peter Daniels sites when he, and his wife Robina, attended a Billy Graham Crusade and May 25th 1959; "I suddenly realized I was equal with all men before God."

 

Peter Daniels kindly made time for this interview in September 1999.

 

PHILIP: Your understanding of business comes from its successful practical application rather than theoretical knowledge; for a long time you have been saying that at some point there is going to be a major down turn in the global economy. Why are you so sure?

 

PETER DANIELS: Well Phil I’m a pragmatist, which means I’m interested in things that work. There are many factors that are going to cause this downturn. People lose sight of the fact that economies are cyclic; we have had the longest economic free run in probably in the history of mankind.

 

The 1st reason is simply DEBT. I’m very interested in history and the thing we learn from history is that we learn nothing from history. As I travel around western countries, the debt factor is bigger than it has ever been before in history, and I’m talking about in every single level. As we have a look at the debt of individuals, corporations and governments; its never been as large and never been as frightening.

 

The 2nd thing is we are having POWER SHIFTS; there is an emerging neo-nationalism around the world we are seeing it in the region of the old Soviet Union; to the north of our shores in Indonesia, India and Africa. Wherever there are power shifts there are always difficulties and economic downturns, even if prosperity comes later.

 

And 3rdly we have a TRADE WAR. Interestingly with this trade war, no-one is talking about it, its happening right under our noses. People are putting up economic and other barriers. In my opinion this trade war may last 20 years and I think we are going to have acceleration in it.

 

The 4th thing is DECEIT. I don’t think we have never had so much deception. That’s not only with America, we’ve had that with almost every country of the world, we’ve had so much deceit, cover-ups people breaking their contracts. We are having a resurgence of what we had in the 1970’s with "situation ethics" which means "I will keep my ethic as long as the situation remains the same and if the situation changes I have every right o break my commitment." We see this in divorce, delinquency and even in things such as law enforcement.

 

PHILIP: We have all seen those graphic pictures of the great depression. While many contemporary economists believe we wont have another depression, the many people I’ve spoken with all maintain the next depression will be far worse than the one we experienced in the 1930’s – how bad do you feel it will be?

 

PETER DANIELS: I was a child during the Great Depression and I remember it with a certain amount of vividness. They were desperate days, very desperate days. I believe because of the demographics the next one will be much larger and more severe.

 

We need only look at the stock market. When we look at the Dow Jones we find that many of those stocks are valued at 50 or 60 times earnings. It could happen tomorrow morning its that close, it has to happen at some point, there is no way of avoiding it. There is no way that anyone can pay all this money back, there is no way we can ride it through.

 

PHILIP: Do you feel it could happen very dramatically - very quickly?

 

PETER DANIELS: I am convinced of that, I don’t think it will happen slowly, I think it will happen very quickly and I believe it could happen as quickly as a few hours. The stock exchange could drop and suddenly right across the world people would start to panic; it happened in the last Great Depression.

 

PHILIP: What can the average "man on the street" expect form this kind of economic shake-up?

 

PETER DANIELS: We could expect inflation or even deflation and that could happen quickly as well. You will find there will be mass unemployment, banks will begin to call loans and any assets they can get, a lot of commodities we take for granted will start to disappear from the shelves and fuel may become scarce.

 

Of course you will see an increase in crime and that’s one of the frightening sides of it because when someone is faced with feeding their family and someone has more and they have less, then an ordinary person who is normally quite passive, becomes an entirely different human-being.

 

There is another good side to it though. We saw in the Great Depression that people went back to their churches, they got down on their knees as they started to realise that their wealth wasn’t in a political system, it wasn’t in their factories but it was in the hands of God. I believe it could see the greatest revival time in the history of Christendom.

 

PHILIP: You have maintained for many years that gold and silver performs very well in the kind of environment we are talking about, but this is contrary to the views of many of today’s popular economists. What makes you so sure you are right on this?

 

PETER DANIELS: History tells us that we are right. The majority is always wrong, it is always the minority that is right. Since the beginning of time gold and silver has always been the measure for value.

 

Then remember its rarity. For some reason or another we feel, think or hope that something printed on paper has more value, yet there is less than 1 oz of gold for each individual on the planet.

 

Looking at history from the 15th century, the number of countries that got in trouble from debasing their coinage, and finally when the bankers call out, they would say "pay us back with gold", that’s just the way its been. When the axe finally falls, gold is the only thing that people are interested in.

 

It may go up and down in value, although I believe it will explode when thing start to look really bad, but if you have it in small denominations and in a protected form, you will be able to do anything that you want to do.

 

PHILIP: You talk about cycles, whether its debasing currency or just people in trouble rushing back into gold.

 

PETER DANIELS: It interesting to see what happened to gold recently. For a long time it kept going down, even though there is (relatively speaking) less and less above the ground. Many people know its because cartels are selling to one and other to keep it down.

 

Then when it went up 20% in 10days (September 1999), if it had been any other commodity it would have been headlines and yet for some reason it failed to stir the imagination of the newspapers. Yet when it continues to go up people will start to buy it and it will accelerate far greater than we can imagine; we saw this in 1980.

 

PHILIP: This brings me to a very interesting and bold statement you’ve said in the past "if every Christian owned 2 oz of gold and 6 oz of silver, we would absolutely control tomorrows economy". Can you explain what you meant by this?

 

PETER DANIELS: We would then have the majority of the wealth in the world. You don’t need the total wealth, you just need to have a percentage that is big enough to shift markets. If you look at the Christians of the world (including nominal) and multiply that by 2 oz of gold and 6 oz of silver, there is no question, we would control global economics, and you not talking about a lot of money in western terms to own that amount of gold and silver. I cant believe why Christians will not do that, they have read the story of the flood, they have read the story of the wise virgins who had to trim their lamps, in both those stories the door was shut when they did not take head of the warnings.

 

We understand Ecclesiastes, "there is a time for every purpose under heaven", there was a time to negatively gear, a time for borrowing big, but now is not the time, now is the time for being conservative. Now is the time to acquire gold, not using it for growth return, but putting it aside as a heritage for your family.

 

One of the things I hear all the time is that "the wealth of the wicked is laid up for the righteous" but people don’t always recall the beginning of the verse where it is written "a good man leaves an inheritance to his children’s children." We need to be leaving an inheritance to our future generations, and if we did this today we wouldn’t be so poor, we would be the movers and shakers of the world.

 

Philip Judge

Anglo Far-East Company

 

 

 

 

 

 

Companies Mentionned : Heritage | Prosperity |
Data and Statistics for these countries : Indonesia | All
Gold and Silver Prices for these countries : Indonesia | All
<< Previous article
Rate :Average :5 (4 votes)
>> Next article
Latest comment posted for this article
Be the first to comment
Add your comment
Top articles
World PM Newsflow
ALL
GOLD
SILVER
PGM & DIAMONDS
OIL & GAS
OTHER METALS
Mining Company News
+28.57%Anaconda Min.(Au)
Announces Election of Directors
Nominations
+0.00%UR-Energy(Ur)
Completes Final Delivery on Its 2014 Sales Contracts
Corporate news
+9.09%Visible Gold Mines(Au)
announces initiation of a 4,000 kilometres airborne survey for its new project in the James B
Corporate news
-15.15%Rockwell(Cu-Gems-Ni)
arranges $4.1 million unsecured convertible Debentures
Corporate news
+3.41%Wesdome(Cu-Au)
-- Dubuisson North drilling cuts 45.05 g/t Au over 5.0 metres; new S50 East discovery, 3.39 g
Corporate news
-0.82%Fresnillo(Cu-Le-Zn)
Drilling Continues to the Southeast on the Coneto Gold-Silver Project in Durango, Mexico
Corporate news
+0.00%Gale Force Petroleum Inc.(Oil)
closes Thunder Properties sale
Corporate news
+0.00%Exall Energy(Ngas-Oil)
announces results for the three and nine months ended September 30, 2014
Corporate news
+0.00%Atna Resources(Ag-Au-Cu)
Announces Sale of Reward and Clover Properties for US$10.0 Million
Exploration and drilling
+5.28%Tristar
TORC Oil & Gas Ltd. Confirms Monthly Dividend for November 2014
Corporate news
-1.69%Talon Metals(Au)
Reports Third Quarter 2014 Results
Financials
+0.00%Orex Minerals(Cu-Au-Ag)
Concludes 2014 Fieldwork on the Jumping Josephine Gold-Silver Project
Corporate news
+2.70%Katanga(Co-Cu)
Announces 2014 Third Quarter Financial Results, Commitment of Glencore to Extend Loan Facilit
Financials
+6.67%Goldgroup(Le-Zn-Au)
Provides Corporate Update
Corporate news
-4.05%Arianne Res.(Ur-Mo-Ti)
Arianne Phosphate announces corporate and financial results for third quarter 2014
Financials
+0.00%Claude Resources(Au-Cu-Ngas)
Appoints Brian Skanderbeg as President and CEO
Nominations
-8.33%CGX(Oil)
announces Kabukalli-1 Exploration Well on the Corentyne Block and Award of Onshore Airborne S
Corporate news
+5.28%Tristar
TORC Oil & Gas Ltd. Announces Third Quarter 2014 Financial & Operational Results; A Series of
Financials
-2.17%Tinka Resources(Ag)
Intersects Thick High-grade Zinc Mineralization in Four Drill Holes at Ayawilca
Corporate news
+2.94%Fortune Minerals(Ag-Au-Co)
receives share issuance approval to complete the purchase of the Revenue Silver Mine
Corporate news
Comments closed
Subscribe to 24hGold’s daily market briefing
  • Prices and data of precious metals in 119 currencies and world mining companies
  • Daily analysis of the economy, markets and more
  • Free, daily and indispensable
Stay informed, subscribe now !
* Your email will never be shared.