A few years ago, in a column I mentioned ‘musical chairs,’ and compared them to paper currencies which have quickly gone down so quickly, that it was impossible to protect one’s self from them. In the game of ‘musical chairs,’ there is one less chair than the number of players. When the music stops, obviously one person will be out. The history of the world has many examples of currencies suddenly or quickly losing value, just like stock market crashes, which many times take currency values down with them. The Great Depression happened almost suddenly, over a period of a very few days. People often ask me when gold and silver prices will go ‘up,’ obviously in dollar prices. The answer is, “I don’t know, but they have already gone up several hundred percent in the last 40 years.” The dollar price of everything will continue to go up, including metals. Why? Because in history, no nation has ever not inflated; and their un-backed ‘money’ always goes to zero. It has happened three times in the U.S. (1) The ‘continental’ dollar went to zero, (2) The South’s confederate dollars went to zero, and (3) The North’s greenbacks or ‘rag babies’ went to zero. The current dollar may be the strongest paper money in the world, but it is backed by nothing, and every time a bank or other financial institution makes a loan, those loaned dollars are created out of thin air. The FDIC has a nickel or less on hand for every $100 it insures for banks. Not a credible insurance company. Eventually, as always happens, the printing presses cannot keep up with inflation, and all holders of the depreciating currency, in a bank, or under a mattress, will lose their wealth.
People are constantly predicting a stock market crash, similar to 2008, and I remember Ford stock going for $2.00 then. There is no way of predicting when the next shooting will occur in America, but it does seem quite often, and in totally unpredictable places and times. If those who died, had foreknowledge of the murders, they would have not been there. No one knows what will happen even ten minutes from now. We know that eventually our metals will go through the roof, but when? Insurance is bought because our home may catch fire, a person may stumble on our stairs, be injured and sue you. We may be in a totally unpredictable accident with our cars, and it maybe not even our fault. That’s why we carry insurance. Our gold and silver are our insurance against terrible things. We don’t know when they could happen, but they will. Do not play musical chairs with your insurance. The music may suddenly stop. Don’t wait till they add zeroes to the dollar to buy insurance. It may be too late! – don@coloradogold.com
–