As we end the first week of trading in what has already been a volatile October, one thing is certain — the crisis the today is far worse than what the world faced in the 1970s.
October 7 (King World News) – James Turk: This has been like the 1960s, Eric, when they threw all of this gold into the market at $35 an ounce thinking that they could keep the price under $35. And once they threw in the towel in 1968, gold started its relentless climb and it climbed for 12 years.
But the circumstances we have today are much different than they were back then. We didn’t have the huge levels of debt, we didn’t have the mountain of derivatives back then that we have today. So how this is going to unfold is kind of unpredictable, but one thing is certain from monetary history — if you own paper, a lot of promises on that paper, regardless of whether it is a government bond or a government issued currency…to continue listening to James Turk discuss what to expect from paper assets, gold, silver, stocks and bonds CLICK HERE OR ON THE IMAGE BELOW.
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