Our nation is in the midst of three incredible bubbles. We have at one time, a housing bubble, a US bond market bubble and yet another stock market bubble. At no time in history has the entire world faced such enormous financial problems. All as a result of everyone using paper money of no value.
Gold is nothing more than a financial yardstick. It provides a measure of how you are doing. Without it, governments and banks will print money without measure. As they have. When the first stock market bubble blew up in 2001, it cost Americans $7 trillion dollars. The coming bubbles will cost far more because they will destroy the savings of most of the middle class. When the dust settles, we will still have the rich, they will always be around no matter what happens. And we will have the poor, they, too, will always be around no matter what happens. We just won't have a middle class.
The high-paying manufacturing jobs are all in China now. The high-paying service jobs are in the midst of a transfer to India. Look for those two countries to lead the world for the next 50 years, all it would take for them to totally dominate the world would be for either of them to go to a precious metals-based currency.
We set the site up almost two years ago to help people preserve their wealth as best as we could. All the reasons why we liked gold and silver then are still true, just more so. If you watch the political games being played in Washington on FauxNews, you will realize that a new $400 billion dollar Medicare drug program is nothing more than more and bigger games. Our government is in debt to the tune of $44 trillion dollars now and the number increases $1.5 trillion a year. I'm 56, I'll never see Medicare or Medicaid or Social Security. They will have been destroyed financially long before I retire.
If the gold in Fort Know still exists and Greenspan increased it in value just enough to pay our government's debts, it would take a market price of $168,000 an ounce to pay off our existing commitments. The United States government is bankrupt and sooner or later, the debt holders of our paper will realize it. It's a good time to own gold and silver and metals shares.
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