WHY IS GOLD PRICING GOING THROUGH THE ROOF LATELY?
Yes gold price has gone up before, but it's important to understand why to begin to understand the magnitude of the opportunity behind the precious metals.
In 2008 a massive economic crash almost wiped the entire economy, since then no real counter measures have been set up. Massive job losses and complete wipe outs could follow that kind of crash worldwide. The risk of having investors seek precious metals like gold is once again probable.
Since 1971, the dollar is not backed by gold, therefore, the US Federal Reserve and other countries have been printing currency at a pace never been seen before. Every time a dollar gets printed and spent in the economy, that new dollar is stealing its value from every other dollars already in existence.
"Money is gold, and nothing else" -J.P. Morgan
American Banker in late 19th century
Most people still acquire a 1% a year cash deposit savings account when the current quarterly inflation can reach up to 2% or more. That's counter productive. They do get returns, but the amount of goods that this amount of money can buy is reducing faster than the potential returns. The current monetary system is creating a forever increasing amount of debt only to keep up with the money lost paying that credit every second.
Gold expert Mike Maloney is trying to inform people about the change of currency that will happen in this decade he predicts. This time for a gold backed monetary system, a real form of money.
"HYPERINFLATION CAN TAKE VIRTUALLY YOUR ENTIRE LIFE'S SAVINGS, WITHOUT THE GOVERNMENT HAVING TO BOTHER RAISING THE OFFICIAL TAX RATE AT ALL."
- THOMAS SOWELL
Source: Zuma Press