There has been a lot of talk lately about de-dollarization. As just one example, the BRICS nations recently announced they are developing a new currency. Peter Schiff recently appeared on Commodity Culture with Jessie Day to talk about the trajectory of the dollar. He said that the death blow for the dollar is coming. And when it does, people will run to gold.
There has been plenty of speculation about de-dollarization recently, but is it a real threat, or is all of the talk just hyperbole?
Peter said, “None of it is hyperbole, and all of it will come to pass.”
The only thing that’s surprising about the dollar’s reserve status is that it still has it. Despite everything we’ve done, we still have it.”
Peter said he thinks the current financial crisis that is just starting will ultimately deliver the death blow to that status.
People are still reluctant to call it a financial crisis, but that’s exactly what it is, except it’s bigger in scale and it’s going to be far more impactful than the 2008 crisis. It’s probably going to result in even more aggressive and reckless monetary and fiscal policy. And this time, it’s going to take the dollar’s reserve status down with it.”
Peter said that will send Americans’ standard of living much lower. Jessie asked Peter if he thought there is a risk of hyperinflation in the US. Peter said there is always that risk in any country that issues a fiat currency, and that risk is higher now than it’s ever been. But even if the US avoids hyperinflation such as people experienced in Zimbabwe, Peter said he thinks Americans will face very high rates of inflation for many years to come.
I mean elevated double-digit inflation and where the first digit might not be a one.”
Jessie also asked about the banking sector. Peter said that the entire sector is insolvent, and that includes the “too big to fail” banks.
Those banks would fail if the government stepped out of the way.”
Peter also pointed out that the claim that “deregulation” caused these problems is a myth.
It was excessive regulation. That is the reason that the banks got into this predicament in the first place. And of course, without the Fed holding interest rates so low for so long, they wouldn’t have even been able to have loaded up their balance sheet with all this debt.”
So, what does all this mean for gold?
There’s no question that just like there’s going to be a run on the banks, meaning people are trying to get their money out of the banks, they’re going to be running to put it into gold. No money is safe now, in the bank. Because, either your bank is going to fail and you will lose your money, or your bank won’t fail because your government bails it out and your money will lose its purchasing power. So, either way, you should withdraw your money now. But don’t stick it under your mattress because it’s going to lose purchasing power there too. You’ve got to convert it to real money. You’ve got to turn it into gold.”
Peter goes on to explain why he thinks there will be an eventual return to a gold standard.
Reprinted with permission from SchiffGold.com.
At Last, a Company With Integrity in the Gold IRA Industry
For several years, I’ve been vetting out precious metals companies in search of the best. I believe in gold and silver but it’s hard to find integrity in the Gold IRA industry. The vast majority operate with shady tactics and gigantic spreads that take advantage of Americans who simply want to protect their life’s savings.
I’ve found a handful that I like and I’ve worked with some of them. By no means would I “unrecommend” them because, again, I vetted them out and found them to be above the fold. Unfortunately, it isn’t hard to be better than the rest when the rest are so darn awful.
After years of searching, I finally found a company that truly operates with integrity. Augusta Precious Metals has three important attributes that set them far above the competition:
- Non-Commissioned Sales Team: I cannot stress how important and unique this is. With just about every other company in the Gold IRA industry, the sales teams make commission from every account they open. This means they steer their clients toward the gold and silver products with the highest commission. With Augusta Precious Metals, the team is solely focused on putting the best gold and silver for their clients into their IRA. They get paid to serve the best interests of the Gold IRA client, NOT their own commission pay.
- Incredibly Low Fees: Most Americans would be shocked if they knew the spread other Gold IRA companies charge. Augusta charges just 5% versus up to 45% elsewhere.
- No Pressure, No Gimmicks: There’s an understanding among most in the Gold IRA industry that fear and pressure is the way to go. Augusta Precious Metals takes a sober approach when working with clients because they hold integrity in the highest possible regard. This is why they don’t offer gimmicks like “free” or “bonus” silver. It’s also why they do not apply pressure tactics to get quick sales. Their educational and transparent approach to doing business is exceedingly rare in the Gold IRA industry.
Reach out to Augusta Precious Metals to learn more about protecting your wealth and retirement with physical precious metals.
FROM THE ARTICLE:
“Because, either your bank is going to fail and you will lose your money, or your bank won’t fail because your government bails it out and your money will lose its purchasing power. So, either way, you should withdraw your money now. But don’t stick it under your mattress because it’s going to lose purchasing power there too. You’ve got to convert it to real money. You’ve got to turn it into gold.”
Hmmmm……let’s see so they are going to take away our money so we better buy gold/silver which will be the new money? So whats going to stop them from then taking gold/silver (our new money) away like they made it unlawful for us to have gold?
They want total control over the masses and “they” will not allow the masses to be independent financially. That’s why we will be tethered to digital money (like a monkey attached to a organ grinder)….will be under their total control and dance to their music. You will be told to turn in your gold/silver within 60 days or be locked up. Oh yeah….when you turn it in you might get pennies for the gold/silver you have – or go to jail and forfeit anything you have of value.
Consider visiting my website:
Money has no value there, no books to purchase, no trips to Alaska, NO, nothing like that.
Be prepared to think for your self and there is only one to follow and it’s not me.