Turk – Something Shocking Has Occurred In The Gold Market
from King World News
Today James Turk warned King World News that something “shocking” has occurred in the gold market. Turk also spoke about a key change in another market that KWN readers around the world should be aware of. Below is what Turk had to say in this powerful interview.
Turk: “There are two major events underway which everybody should be paying close attention, Eric. The first one is rising interest rates. You and I have already focused on this point to some extent, but we saw another huge surge in rates to a new multi-year high after the unemployment report on Friday, which is very telling. We need to look at this rise in interest rates in relation to an economy that is barely crawling along.
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Source: http://financialsurvivalnetwork.com/2013/07/turk-something-shocking-has-occurred-in-the-gold-market/?utm_source=rss&utm_medium=rss&utm_campaign=turk-something-shocking-has-occurred-in-the-gold-market
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Whistler Blowers, Insiders
No nothing “shocking” here folks.
Financial fear porn.
Schadenfreude merken
How can you have a Gold Backed Currency?? please explain to me.
Lets say Im the King of Zamboanga.. and I want to have a Gold backed currency.. The Samolian..
I trot down to my local Gold Mining company.. and hand over 1 Trillion Samolians to buy 200 tons of Gold..
Now..are my Samolians worth any more now than yesterday.. ?
Lets see.. I spent a Trillion so now Im actually MINUS 1 trillion Samolians..
If I print another Trillion worth.. thats 2 Trillion in Circulation.. BUT ONLY 1 TRILLION in Gold.
Please explain??
Gaz
If the gold is valued to the amount of money in circulation, you have 1 trillion in gold value and 1 trillion is in circulation. If you (the central bank) print another 1 trillion and put it in circulation, the gold you have is now worth 2 trillion. Provided you didn’t purchase another 1 trillion in gold. Something has to be “collateralized” with the new money printed. In the US, it’s treasury bills, in your “country” it’s gold. That’s how balance sheets work.
When the FED prints money and gives it to the US gov, the gov sells treasuries as collateral for the money and, hopefully, someone out there buys them. If they don’t, and the FED buys them, it called “monetizing the debt” and that’s when inflation starts to rage. In nature, you NEVER get something for nothing.
Now, go out and buy yourself some gold or silver. No matter what currency is adopted, the metal WILL have value. In time, money ALWAYS reverts to the intrinsic value…..metal to its usefulness in society (tangible products) and paper to its usefulness in society (toilet wipe!)