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"There is a new factor at work that is about to light a fire under the precious metals that few people recognize - food inflation. It was one of the key drivers in the summer of 2010 which launched the huge rally that eventually took silver near $50 and gold to a new record over $1900. Food inflation was also a factor in the big run-up of the precious metals in 2007, and early 2008, when food riots broke out around the globe because of high prices.
The worsening drought in the midwest means that food inflation will again become one of the drivers sending gold, silver and the mining shares much higher from here. The summer doldrums are over. Gold and silver are ready to get exciting once again. We can expect a rally from here that will take our breath away.”
"James Rickards, senior managing director at Tangent Capital, talks about the U.S. economy, investment in gold and global currencies. Rickards speaks with Sara Eisen on Bloomberg Television's "Money Moves."
well peeps are to dam busy trying to survive and work for the American dream and dont have much time for anything else , we are fortunate to work in this capacity to see it at face value
"I’ve been asked before, is there a solution to the problem? There isn’t a solution to the problem. There’s things that might happen. There’s a default that could happen. There’s hyperinflation that could happen, but none of those would be deemed as solutions to the problem. But one or the other or both is going to happen.
People should, rightly, have fear of having their money in paper instruments, whether it’s in a bank account or a bond. If they had any sense they would be buying (physical) gold and/or silver. That’s the only way to maintain your purchasing power."
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