Re: First Mining (Another Thought)
in response to
by
posted on
Jun 20, 2016 05:04PM
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How can we intimate the "Big Names" projections have been over-estimated. The metals markets have barely begun the move they will make if time allows them to make it?
Most people have no idea how many pieces of paper called "money" have been created. Consumer credit is also in the same category (a promise to pay that will likely be dishonored in the future when things soon get much tougher); those amounts are off the charts. Most have far more credit than they can readily pay off even with all the "money" that has been printed.
Just based on the currency admittedly in circulation the price of gold should have been close to $50,000/oz. several years ago. It has since only become much worse! More currency printed, monstrous consumer credit which will mostly default; probably little or no gold at Fort Knox...
The price of gold in dollars, if it has time to fully flesh itself out, will be unimaginable to most people. Not because gold has become something special (it just is what it is); but because the currency has been destroyed.
At one of his presentations Mike Maloney was giving away Zimbabwe dollars denominated in trillions of dollars.... This country is on that same road. The longer it lives before the reset the more valueless its currency will bcome.
There is every likelihood that when the real reckoning occurs, a similar circumstance will happen here. Personally, I think the entire world-wide financial system will soon crumble into the dustbin of forgotten history.
Forgotten because those living at that time will not even care to remember how things were when it all finally came apart. Perhaps some will keep the memories for the sake of explaning how the worldwide political system died to those who are resurrected.
P.