Our creditors will continue to make careful moves to extricate themselves from the US dollar reserve system, like China’s recent currency swap deals with other emerging markets or its rapid liberalization of domestic gold markets.
This means that a stagnant job market and poorly disguised inflation is the “new normal” for Americans. Forget about sending the kids to college – it’s going to be a struggle for many families just to make ends meet. Those who don’t own gold and silver will see their dollar savings and quality of life diminish at a faster and faster rate.
My new motto for SchiffGold is “Helping you turn paper into gold.” This has been our mission for the last four years, and it will only gain urgency in the next four.
While the precious metals may have seemed like they were riding a roller coaster recently, serious investors must learn to see past the short-term noise to understand the important fundamental signals. By all accounts, the global dollar reserve system is in its death throes. At the first major crack, we are likely to see the biggest gold rally the world has ever seen. At that point, it will matter less whether you bought in at $600, $1200, or $1900, because those prices will all seem so cheap as to be quaint. Remember $1.20 a gallon gas? That wasn’t too long ago, and yet we know that we’ll never see that price at the pump again.
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