China to set up a trial zone for yuan convertibility
 The Wrap |
Up until August 15, 1971, there has never in history been an era when no paper currency was linked to Gold. The history of money is replete with instances of coin clipping, printing, debt defaults, and the other attendant ills of currency debasement. In all other eras of history, people could always escape to other currencies, whose Gold backing remained intact. But since 1971, there is no escape because no paper currency has any link to Gold.
All of the economic, monetary, and financial upheaval of the past 40 plus years is a direct result of this fact.
The global paper currency system is very young. It depends for its continued functioning on the belief that the debt upon which it is based will, someday, be repaid. The one thing, above all others, that could shake that faith, and therefore the foundations of the modern financial system itself, is a rise (especially a sharp rise) in the U.S. Dollar price of Gold. - Bill Buckler...in his permanent preamble to his Gold This Week commentary
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Egon von Greyerz..."Greatest Financial Collapse The World Has Ever Seen".
“...investors are under the illusion that the system will continue, but it won’t.”
Mexico: A Major Emerging Market Right Under Your Nose!
| Thursday, July 5, 2012
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