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If Venezuela were any guide, we would have to say “Buy gold and silver,
right here, right now!”…For those of you who hold Bernanke Bux, aka fiat paper, pay close attention. Those Venezuelan citizens who held paper Bolivars took a 46% hit on their purchasing power. Those citizens there who held gold and silver saw an equivalent 46% jump in their holdings. If you think it cannot happen here, you are wrong. It already has. Words: 295
So writes Michael Noonan (http://edgetraderplus.com) in edited excerpts from his original article* entitled Gold And Silver – Buy! $1600 And $28 Targets?.
This article is presented compliments of www.munKNEE.com (Your Key to Making Money!) and may have been edited ([ ]), abridged (…) and/or reformatted (some sub-titles and bold/italics emphases) for the sake of clarity and brevity to ensure a fast and easy read. Please note that this paragraph must be included in any article re-posting to avoid copyright infringement.
Noonan goes on to say in further edited excerpts:
Since the privately owned Federal Reserve took control over this nation’s money supply in 1913, the purchasing power of the commercial debt instrument issued by the Federal Reserve – the fiat-issued Federal Reserve Note (FRN) – has declined to $0.03….
The likelihood of another devaluation of the FRN, this time an “official” one as high as 50% like what happened in Venezuela, would not be out of the realm of possibility. Anyone who still “values” the holding of valueless paper and has not purchased gold and silver in physical form, lives in denial and will “pay” dearly for that choice.
Here is one more fact for you to consider: $16,483,729,858,642. That is how many fiats are outstanding, a part of which the federal government says is YOUR burden. (We warned you, FRNs are IOUs!). It is the approximate current cost of kicking the political can down the road in order to pay for all the banking failures, and government spending and….
Conclusion
Let us be clear…BUY physical gold and silver, now, at any price and at any time, and put it away…NOT in a bank or some financial institution; NOT in any paper form, ETF or any “certificate of ownership” form, which is just a piece of paper. If you do not hold it, you may never get to own it! Is that worth the risk?…
Editor’s Note: The author’s views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor.
* http://edgetraderplus.com/market-commentaries/gold-and-silver-buy-1600-and-28-targets
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