Over the past three weeks, approximately 11 trading days, silver has
suffered one of the longest downward spirals in a great many years and
some have even argued this is the longest ever. I try not to look a gift
horse in the mouth and simply use this manipulated beating to acquire
more money at a more favorable exchange rate. Some people call it the
“price” of silver, but in doing so the monetary history of silver is
discredited and wiped from memory. This has to change; but I digress.
I sat down with James Turk, Founder, GoldMoney,
to find out what exactly is going on with silver, gold and our current
state of monetary change. Central banks, the world over, have pushed
economies, both large and small, to the brink of collapse. The monetary
magic that has been foisted upon the world is beginning to unravel. Fiat
currency, created from nothing and assigned a value, will return to
it’s intrinsic value of zero; history has proven this time and again.
Gold and silver are still the only money that has survived and stood the
test of time. Time will prove this be the case once again.
If you don’t believe me ask anyone in the Eastern world
which has true value – their government issued currency or the families
gold horde? Ask yourself this – for what purpose has China and Russia
been adding gold to their official gold holdings? Is it to create more
jewelry, more trinkets or for the purpose of reintroducing gold to the
monetary system? What about all the
physical gold that has been passing through the Shanghai Gold Exchange?
Are the citizens, companies and possibly other sovereign nations
acquiring near record amounts of gold because it has no value?
This is to say nothing of what is happening in India. The government
of India and the latest scheme to separate the people from their gold,
has not only failed miserably, it is now creating a massive gold run in
the country. The past two months has seen an exponential rise in the
volume of gold entering the country through official channels. India is
well known as the gold smuggling capital of the world, so the actual
volume of physical gold moving into India could be much higher than what
is officially reported.
This brings us to the BRICS nations and more specifically Russia and
China. Both nations have agreed to open a shared gold market in their
capital cities to help facilitate gold acquisitions for India, Brazil
and South Africa. As these nations continue to acquire more gold we have
to circle back to my earlier question – for what purpose is all this
gold being acquired? Let’s not forget the
nations along the New Silk Road (One Belt/One Road) are all acquiring gold as it will be one of the trade items.
What I learned a long time ago is if you wanted to be wealthy a
person should act and do as a wealthy person. In this case we have
entire nations whose wealth is rapidly surpassing that of our own. The
soon to be
new “middle class”
will be in countries like China, Russia and India. These “wealthy
people” are all acquiring gold. Why would I stand idly by and not “act
as if”?
Mr. Turk does a masterful job of putting it altogether and delivering a power-pack 20 minute show.
 
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Rory Hall, Editor-in-Chief of The Daily Coin, has written over 700 articles and produced more than 200 videos about the precious metals market, economic and monetary policies as well as geopolitical events since 1987. His articles have been published by Zerohedge, SHTFPlan, Sprott Money, GoldSilver and Silver Doctors, SGTReport, just to name a few. Rory has contributed daily to SGTReport since 2012. He has interviewed experts such as Dr. Paul Craig Roberts, Dr. Marc Faber, Eric Sprott, Gerald Celente and Peter Schiff, to name but a few. Visit The Daily Coin website and The Daily Coin YouTube channels to enjoy original and some of the best economic, precious metals, geopolitical and preparedness news from around the world.
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The author is not affiliated with, endorsed or sponsored by Sprott Money Ltd. The views and opinions expressed in this material are those of the author or guest speaker, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.
