Today the man who has become legendary for his predictions on QE and historic moves in currencies and metals warned King World News that investors need to get into physical gold right now or risk losing their entire fortune.
More about this follows but, in the meantime, an extremely important warning:
If you have never been a goldbug, this is the time to become one.
I decided 25 years ago that the destiny of the world economy and the financial system necessitated the best form of wealth preservation that money could buy.
And physical gold performs that role beautifully just as it has done for several thousands of years as every currency or fiat monetary system has collapsed without fail throughout history.
Thus, at the beginning of this century we told our investor friends and ourselves to buy gold for up to 50% of investable liquid asset.
So at $300 we acquired important amounts of gold and have never looked back. We have of course never sold any gold but only added since.
I have never called myself a goldbug, just someone who wanted to protect assets against the risk of the destruction of the financial system including all currencies. But now is really the time to become a real gold bug.
So, today just over 20 years later, gold is up 7 – 8X in most Western currencies and multiples of that in weaker economies like Argentina, Venezuela, Turkey etc.
The total mismanagement of the US financial system has led to the dollar losing 98% of its value since Nixon closed the gold window in 1971. Most other currencies have followed the dollar down at varying speeds.
But now comes the really exiting phase of this race to the bottom.
We have only 2% left for the dollar based currency system goes to ZERO.
As Voltaire said in 1728, “Paper money always returns to its intrinsic value – ZERO.
What we must remember is that the dollar doesn’t just have a further 2% to fall to reach zero. Because to reach zero, it will next fall 100% from where it is today.
I know the sceptics will say that this is not possible. But these sceptics don’t know their history. Since fiat currencies’ record is perfect, no one must believe that because we live today, it is different to a 5,000 year faultless record of success, or shall we call it failure, of currencies always reaching zero.
Source: Kingworldnews
