Fri, 30 December 2011
If you're worried about the latest price decline of precious metals, then listen to Ranting Andy's latest take on the smack-down. Andy and I agree: it's all smoke and mirrors, so you shouldn't be deceived. You have nothing to lose but your fiat currency. Simply put, this latest smack-down is just another last ditch survival ploy by the elite world financiers. However, this tactic is destined to fail because worldwide debt growth has gone geometric; there's simply no way to pay it off. There will be subsequent massive debt defaults, either through inflationary devaluation of fiat currencies or by countries that simply accept the obvious and cut off the flow of debt repayment dollars.
Andy and I joke that the .45 caliber round may one day become the universal currency unit. But seriously, there will be much pain for you if you refuse to recognize the truth and embrace the concept of sound money. Therefore, your choice is simple, buy gold and silver at steeply discounted prices, or wait for your bank balance to become irrelevant. The crisis has spread to every continent in the world and there definitely wont be a Chinese White Knight riding to your rescue.
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