August 15, 1971 was the beginning of the End for the current...
August 15, 1971 was the beginning of the End for the current economic era and currency system. The Great Financial Crisis in 2006 was the start of the End of the End. Since the Great Financial Crisis started in 2006, the balance sheets of the four biggest central banks have gone up 6X. In August 2019, when central banks panicked and stated they would do whatever it takes, the final stage of End of the End started. 50 years after 1971 global debt trebled to $300 trillion. 2025 will be as far as it can be stretched before the biggest economic collapse happens. Gold had what was probably the end of a minor correction and it should soon start the move to the next target of $3,000. Rising above $1,900 will be confirmation of the resumed uptrend.
Physical gold has always been the best protection against a failed currency and financial system. This time will not be different.
Today in many countries there is no respect for teachers, parents or even the police. All eras go through cycles and the worst part of the cycle is what we are experiencing now. Moral and ethical values are gone and crime is rampant. This is not new in history and regularly happens at the end of major eras or cycles. This happened, for example, at the end of the Roman Empire as Rome disintegrated economically and morally. Decadence was rampant then as it is today. So were debts and deficits. So dissolution of values and principles are clearly a consequence of financial and economic dysfunction. The fact that the US has increased the federal debt every year since 1960 (with four minor exceptions) is a sign of chronic disease and total dysfunction. If the US government for over 60 years has become increasingly more decadent, both economically and morally, how can we expect the people to behave differently?
Physical gold has always been the best protection against a failed currency and financial system. This time will not be different.
Today in many countries there is no respect for teachers, parents or even the police. All eras go through cycles and the worst part of the cycle is what we are experiencing now. Moral and ethical values are gone and crime is rampant. This is not new in history and regularly happens at the end of major eras or cycles. This happened, for example, at the end of the Roman Empire as Rome disintegrated economically and morally. Decadence was rampant then as it is today. So were debts and deficits. So dissolution of values and principles are clearly a consequence of financial and economic dysfunction. The fact that the US has increased the federal debt every year since 1960 (with four minor exceptions) is a sign of chronic disease and total dysfunction. If the US government for over 60 years has become increasingly more decadent, both economically and morally, how can we expect the people to behave differently?
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BeckyBoo : Nice piece
iamiam : yep, the saying that history repeats itself is true and throughout history is always met with the faulty hubris that this time its different because we're so advanced now.
xeraphin : Thank you for sharing this, timely reminder of the cycles we face and how to remain objective!
Mcsnacks H Tupack OP iamiam : The World is on pace to be 2 quadrillion dollars in debt by 2025. We can’t even wrap our heads around how much money that is.
iamiam Mcsnacks H Tupack OP : its ridiculous that's why I believe the real value of precious metals is MUCH higher than we ard being told, look at metals that arent paper traded they are all over 2X from a year ago and then theres rhodium![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
Mcsnacks H Tupack OP iamiam : Metals are coming off their support for new highs. Steel is already there.
CowJumpedOverTheMoon : Saving this.