| Source: GoldSeek.com
You think I am crazy?
I have been ridiculed, dismissed, hated and now I am feared, but no one has given me a reason to change my view. I am still listening.
Unbacked paper money is fraud. Most of the wealth is the world is an illusion.
Real wealth is productive capacity. The world has orders of magnitude more productive capacity than in 1929, multiples of what it had in 1989. But the paper illusions of wealth dwarf real wealth as never before. Most of that paper wealth will accrue to gold and silver.
We will continue to see deflation in terms of gold and silver, inflation in terms of paper. From the perspective of gold, debt will default. From the perspective of paper, debt will inflate. One way or another, debt, which is the mirror reflection of the paper wealth illusion, will be destroyed.
Attempts to reform within the current system are useless. You should write off all paper promises today, and plan accordingly. Here is an incomplete list of what you need to kiss goodbye:
Social Security, Medicare, MedicaidCorporate PromisesBonds
Public sector jobs
Unbacked paper gold and silver
Home equity lines of credit