Here again is Mike Maloney showing the growth of America’s debt to GDP ratio and explaining how a default would hurt the elite bankers and investors, while inflation hurts the middle class savers. Since they are in charge, which option do you think they’ll chose?
Here again is Mika Maloney from GoldSilver.com with a great (and quick) review of what’s happened to the global monetary system in the last 140 years. Mike explains how the world’s monetary system went from the classical gold standard in the late 1800’s to the floating fiat paper being used today. Also quite interesting is the observation that the world’s monetary system seems to change approximately every 40 years. America’s “good as gold” dollar became the world’s reserve currency after World War II and has enjoyed its status as the world’s reserve currency. After Nixon removed the dollar’s tie to gold in 1971, it freed the Federal Reserve & US Treasury to allow money to be created without limitation. But now, too many dollars have been printed so we may be about to see another change in the global monetary system.
This is a delayed release of Mike Maloney’s video initially released to his GoldSilver.com subscribers in mid-April. Mike reveals that he made a rather large investment in silver because he “saw an opportunity.” The video explains all the technical analysis behind his move.