Economic Tumult Or Total Currency Collapse: Detlev Schlichter: Whether The Fed Continue To Print Money Or Not, Holding Physical Gold Is The Safest Course Of Action.


from Money News:

Economist and author Detlev Schlichter says governments now have two stark choices: stop printing money and spark economic tumult, or keep printing money and risk total currency collapse.

Both choices are grim, and holding physical gold is the safest course of action, he wrote on his website. Schlichter is the author of the book “Paper Money Collapse – The Folly of Elastic Money and the Coming Monetary Breakdown” and is a former asset manager.

“My three favorite assets are, in no particular order, gold, gold and gold,” he wrote, noting that the current global economic problems represent a paper money crisis provoked by central banks.

“Whenever paper money dies, eternal money — gold and silver — stages a comeback,” Schlichter said. He said that throughout history, every experiment with paper money has sooner or later ended in failure, with over-issuance the predominant cause.

 

 

Investors Don’t Understand The Risk In The System

from KingWorldNews:

Today 40-year veteran Don Coxe spoke with King World News about what is happening in the markets. Here is what Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), had to say: “Well, what’s happening right now is the that stock prices are falling (since October 19th) because it turned out that one of the things the pollsters never asked people was, are you a serious investor? Who were you supporting, Romney or Obama? What we now know is that there were more serious investors supporting Romney, and they are pretty upset. So they are selling stocks.”

“You say, ‘Well why aren’t they buying gold?’ What they are doing, first of all, is getting their portfolios in line, and they are going to cash first. They realize that the so-called fiscal cliff is simply the first face of reality for the administration. But they are not going to come up with anything for it that gets the deficit down below 3/4 of a trillion dollars per year.

Nobody is suggesting that. They are saying they can’t afford to do that….

 

INDIAN BANKS BANNED FROM LENDING FOR GOLD PURCHASES

from silverdoctors:

India’s central bank has banned banks from lending money for the purposes of buying gold.

It is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold mutual funds” said a statement issued by the Reserve Bank of India Monday.

India is traditionally the world’s biggest gold buying nation.

 

 

US DOLLAR DEATH BY A THOUSAND CUTS CONTINUES

Dollar Collapse Update: 

Asian economies turn to yuan

A “renminbi bloc” has been formed in East Asia, as nations in the region abandon the US dollar and peg their currency to the Chinese yuan — a major signal of China’s successful bid to internationalize its currency, a research report has said.

The Peterson Institute for International Economics, or PIIE, said in its latest research that China has moved closer to its long-term goal for the renminbi to become a global reserve currency.

Since the global financial crisis, the report said, more and more nations, especially emerging economies, see the yuan as the main reference currency when setting their exchange rate.

And now seven out of 10 economies in the region — including South Korea, Indonesia, Malaysia, Singapore and Thailand — track the renminbi more closely than they do the US dollar. Only three economies in the group — Hong Kong, Vietnam, and Mongolia — still have currencies following the dollar more closely than the renminbi, said the report, posted on the institute’s website.

The South Korean won, for example, has appreciated in sync with the renminbi against the dollar since mid-2010.

China has long vowed to raise its currency’s global sway, along with the rise of its economy, which became the world’s second-biggest last year.

 

Greenspan and Geithner: Raise Debt Limit To Infinity


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  • come-and-take-it

    You folks don’t get it. The PTB are trying to make the financial system collapse. Holders of large quantities of US denominated assets will suffer along with the rest of the American sheeple when inflation goes bazoo. Therefore, the holders of significant wealth want to see the system collapse so they can use the government stooges to help them convert to another asset class or currency before their holdings become ravaged by inflation. Whether a new currency, foreign holdings, commodities, credits or premium positions in some government paper who cares? They just want theirs first, before the music stops.

    Watch closely while legislation is passed exempting big holders from taxes, penalties and regulation in exchange for investment in the Amero or some other alternate currency that leaves the citizens holding the bag…

  • come and take it is absolutely right :)

    you pegged it, COME AND TAKE IT…

    the whole goal, per the Protocols of the Learned Elders of ZION, is to ‘destroy’ the current system and force the ‘new’ bullshit FIAT system upon the sheeple, under one ZIONIST government body, most likely the ZIONATIONS as I call it.

    so this is in fact the plan. it’s underway. and the sheeple are clueless.

    99 percent have never read THE PROTOCOLS OF THE LEARNED ELDERS OF ZION, but they
    should.

    they’ll get a clue. but it will be too late for most.

    “Senora, a storm, she is coming..” (you know the movie)

    yes, a storm is coming….absolutely..it’s been coming for 250 years since Rothschilds foisted DEBT USURY on the people of the planet thru their scumball ZIOTURD CENTRAL BANKS.