Visitors Now:
Total Visits:
Total Stories:
Profile image
By BARRACUDA (Reporter)
Contributor profile | More stories
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Economic Tumult Or Total Currency Collapse: Detlev Schlichter: Whether The Fed Continue To Print Money Or Not, Holding Physical Gold Is The Safest Course Of Action.

Tuesday, November 20, 2012 20:16
% of readers think this story is Fact. Add your two cents.

(Before It's News)

Money News:

Economist and author Detlev Schlichter says governments now have two stark choices: stop printing money and spark economic tumult, or keep printing money and risk total currency collapse.

Both choices are grim, and holding physical gold is the safest cource of action, he wrote on his website. Schlichter is the author of the book “Paper Money Collapse – The Folly of Elastic Money and the Coming Monetary Breakdown” and is a former asset manager.

“My three favorite assets are, in no particular order, gold, gold and gold,” he wrote, noting that the current global economic problems represent a paper money crisis provoked by central banks.

“Whenever paper money dies, eternal money — gold and silver — stages a comeback,” Schlichter said. He said that throughout history, every experiment with paper money has sooner or later ended in failure, with over-issuance the predominant cause.

Investors Don’t Understand The Risk In The System

from KingWorldNews:

Today 40-year veteran Don Coxe spoke with King World News about what is happening in the markets. Here is what Coxe, who is Global Strategy Advisor to BMO ($538 billion in assets), had to say: “Well, what’s happening right now is the that stock prices are falling (since October 19th) because it turned out that one of the things the pollsters never asked people was, are you a serious investor? Who were you supporting, Romney or Obama? What we now know is that there were more serious investors supporting Romney, and they are pretty upset. So they are selling stocks.”

“You say, ‘Well why aren’t they buying gold?’ What they are doing, first of all, is getting their portfolios in line, and they are going to cash first. They realize that the so-called fiscal cliff is simply the first face of reality for the administration. But they are not going to come up with anything for it that gets the deficit down below 3/4 of a trillion dollars per year.

Nobody is suggesting that. They are saying they can’t afford to do that…. 

INDIAN BANKS BANNED FROM LENDING FOR GOLD PURCHASES

from silverdoctors:

India’s central bank has banned banks from lending money for the purposes of buying gold.

It is advised that no advances should be granted by banks for purchase of gold in any form, including primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds (ETF) and units of gold mutual funds” said a statement issued by the Reserve Bank of India Monday.

India is traditionally the world’s biggest gold buying nation.
MORE HERE

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.