Multi-billionaire Hugo Salinas Price just warned that the world’s paper money system is going to collapse.
Today’s Market For Gold Has Two Individuals
March 3 (King World News) – Multi-billionaire Hugo Salinas Price: The world used gold coins as money up until the first years of 1900.
Since that time, the world’s use of gold as money has ceased, and as of today, gold’s only function is as a means of saving wealth for future use.
Today, the market for gold consists of two groups of individuals or economic entities: a) those who wish to acquire gold for the purpose of saving some wealth for future use, and b) those who hope to realize a profit in terms of paper money, by speculating in the gold market.
The group “a”, of savers, is a relatively small group, and for the most part, only purchases gold and does not sell.
The group “b”, of speculators, is a large group made up of individuals or economic entities anxious to realize paper profits.
The world is extremely indebted, and a great number of individuals are hard-pressed to make a buck on their speculations, including those in gold…
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Hugo Salinas Price continues: “The monetary authorities running the paper-money schemes of the present are anxious to forestall significant rises in the paper price of gold, because such rises would diminish confidence in the lasting value of the paper money in use today.
The gold-gambling casino run by today’s monetary authorities makes Las Vegas gambling look like child’s play. The poor wretches who want to make a buck by speculating in gold are regularly taken to the cleaners by the legal manipulation carried out by the monetary authorities of the West.
There is only one policy which makes sense for those who are anticipating the collapse of all paper money in this world: buy and hold gold. Most people simply cannot afford to do that.
Nobody knows when the world’s paper money is going to collapse; it may happen tomorrow, or it may happen years from today. We don’t know when, but the collapse will happen at some date. That is engraved in granite.
In the meantime, if you want to lose money, speculating in gold is a good way to do it.
If you are one of those who are strong enough, buy and save gold; if not yourself, your children or grand-children will be thankful you did so.
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