RE: Confidence boost.20 Jul 2020 22:34
I believe we are now in the end game for fiat currencies worldwide. The central bank response to the Corona Virus has crossed the monetary Rubicon & only exponential increases in borrowing can keep the system going for even just a short extension to the economic cycle.
Any talk by politicians of austerity to pay for the explosion in government borrowing simply means they either don't understand the monetary system, or they're complicit in the scam.
You cannot repay a debt in a debt-based currency. FACT. When your money comes into existence as debt, that debt can never be repaid. When money is created: debt is created. When debt is paid-off: money is destroyed. Pay of the debt & you have no money in your economy. AND YOU STILL OWE THE INTEREST. This is why austerity cannot work at a national level.
Our monetary system is the ultimate pyramid scheme. The banksters have developed a system whose very survival is dependent upon individuals, corporations & entire governments borrowing ever more currency: currency the banks don't even have themselves until it is borrowed into existence.....they simply create it out of thin air. Eventually, the system collapses under its own weight (of debt) & that is what we are starting to see now.
Tangible assets will be the only things left standing: gold & silver (of course) being foremost amongst them. Mining stocks are about to undertake a ride the like of which has never been seen before in all of history. I ABSOLUTELY BELIEVE THAT. Just do the maths. If currencies are going to zero, mining stocks are going to infinity.
As I have said before, you WILL need to cash out & convert profits into PHYSICAL PMs. Whilst potential gains are immense, don't get greedy. Take some money off the table & convert it into hard assets. Personally, I like the idea of selling half if your stock has doubled. Anyone who bought the dip in March is already sitting on a multi-bagger in pretty much any stock in the industry (whilst the FTSE is still down around 17%). Take some profits & convert them to PMs & then play with the house's money. Remember: we were taught a valuable lesson in March & April; sometimes PMs aren't available at ANY price. Don't wait too late.
Finally, I do still expect a sizeable correction in PMs & mining stocks (like in March) when the market (again) ****s the bed, so don't be a weak hand. Keep some powder dry, hold your nerve & BTFD. This really is a once in a lifetime opportunity. The world is changing, & not for the better, so make what you can here to make life on the other side enjoyable & not just survivable.
GLA.
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