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Gold vs $200 Trillion Counterfeited Money

Friday, May 14, 2021

Gold last traded at $1,825 an ounce. Silver at $27.08 an ounce.

NEWS SUMMARY: Precious metal prices rose Thursday on rising inflation data and a flat dollar. U.S. stocks rebounded from steep losses in the previous session as investors picked up major technology shares after the pullback.

Gold Switzerland--"All fiat money is fake and produced at will with the press of a button by the culpable bankers. Fiat money is today produced electronically which means at no cost. So it is obviously today not even worth the piece of paper it is written on.

Anything that can be produced in unlimited quantities at no cost can by definition not by worth more than ZERO. Ayn Rand said that 'we can ignore reality but not the consequences of reality'.

And reality is that just in this century over $200 trillion of debt or fake money has been produced in the world. That is 200% more than all the debt monies created ($100T) in history until year 2000. This sum obviously excludes promises and lies in the form of global unfunded liabilities, (medicare, social security, pensions etc) plus up to $2 quadrillion of derivatives which will end up worthless.

But few realize the consequences of the world's insatiable need of fake money. The super bubble will inflate until it one day it totally implodes....

As I mentioned in a Tweet last week, gold has now finished the correction since August 2020 and is on its way to around $3,000 as an initial target....Very few investors are aware that gold has outperformed virtually all asset classes, including stocks, in this century. But gold should not be seen as an investment but as an asset for 'freedom and benefit'.

In an investment world which consists primarily of insanely overvalued paper assets, physical gold represents sanity and eternal wealth. Gold is also the ultimate insurance and wealth preservation asset against a very fragile financial system.

Anyone who fails to protect his family's and future generations' wealth is not only irresponsible but stands to lose virtually everything as the most epic asset bubble in history bursts."

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Comments
5/19/2021 8:51 PM
gold

Paper money is just a promise that it is worth something which people presently accept.

There is not enough gold in the entire world to cover the supposed value of all the printed paper money.

In the 1950s, I recall the national debt being in the hundreds of millions of dollars. Then it graduated into being in the hundreds of billions of dollars. Now it is in the trillions of dollars soon to be in the quadrillions of dollars