“I think the time to buy (gold and silver) is ideal. Gold is the ultimate and only real money. Gold is the only safe asset when push comes to shove. They tell you to buy the government bond, that’s a safe asset. It’s not a safe asset at its current price. I am not saying the federal government is going to default in the next two or three years. I am saying the yield on a 10-year bond of 2.4% is way below of where it’s going to end up. So, the only safe asset left is gold."
“The central banks realize they cannot keep printing money at these crazy rates, and by that I mean the bond buying. Now, they are going to begin to normalize and shrink their balance sheet...
By the fall (of 2018), they (the Federal Reserve) will be shrinking their balance sheet by $600 billion a year. What that means in plain simple English is that they (the Fed) are dumping $600 billion a year of existing bonds into the market just as Uncle Sam will be attempting to borrow $1.25 trillion more. Now, if you don’t think that is a financial collision waiting to happen, then I am not sure what would be.
We are heading for a thundering collision in the bond market that will drive yields upward far more than the market is expecting. The stock market operates on the illusion of permanently low interest rates. When interest rates start to rise, everything is going to come apart because cheap debt has been priced in forever, and we are heading for far more expensive debt...
Bond prices are going to collapse when yields begin to rise...
Stock prices are going to collapse big-time when the underlying predicate of cheap debt, massive stock buy backs and M&A deals and everything else supporting the market today finally reverses.
So, we are going to have deflation in the canyons of Wall Street, and that will not be a happy day."
For more of this article, click below. Its a good read and something to keep in the back of your mind.
http://www.zerohedge.com/news/2017-12-21/david-stockman-warns-gold-only-safe-asset-left
Hi! I am a robot. I just upvoted you! I found similar content that readers might be interested in:
https://newswars.com/financial-expert-phony-wealth-created-since-last-crisis-will-evaporate
You may be interested in Peter Schiff. He has been saying this for years.
Yes, I am very aware of Schiff... All these guys have interesting information, the problem they all have is they pretend to have a crystal ball. No one has one btw. I like to follow the lines of logic and draw my own conclusions with not just gold but basically all assets. I posted the article to give the steemers more information from which they too can draw their own conclusions. Knowledge is power.
And for the record, over the longer term I think these guys will be proven right and precious metals are a steal at these prices. Over a longer time frame is the key.
Seems like the value of gold has been in a relative standstill since 2013, but I guess it's not so much about appreciation as it is about security. It's always tempting to shift crypto into gold.
Similar mindsets required for future-casting in either case.
@luminousflux yes the market for gold has actually been in a long term correction from the last bull run since 2011. It went from roughly $300 to $1800 over a more than 10 year up move. The move since 2011 has been trending lower but seems to be losing steam now. I think it is a good entry point from a long term perspective but comparing it to crypto is certainly not easy. And yes I agree that the mindset behind them both is to be free from fiat.
How do I get gold
It depends on what country you live in. Most countries have gold dealers (shops) that people can buy it directly from so that they can see it and trust the transaction. You can also buy online at many different reputable dealers (some even except bitcoin). I personally buy from these guys because they have good prices and are reliable https://www.gainesvillecoins.com/ ... But there are many dealers out there and if you live outside the US, make sure they can ship to your country. If you have any more questions, just ask I'd be happy to help .
Great, thank you again! :)