by Warren Armstrong, edited by SGT:
I am a self-proclaimed Silver Vigilante and proud supporter of the war on financial terrorism.
I first learned about the Silver Liberation Army (SLA) and the true nature of the world’s monetary system in Vietnam back in 2008. That’s when I first realized that the Vietnamese Dong was severely devalued when priced in U.S. Federal Reserve Notes. It cost me only 32,000 Vietnam Dong to buy a nice lunch – that was about $2 US dollars at the time. So I wanted to learn more about currencies. Why was ours worth so much more than theirs?
Then I came across a documentary online called ‘Zeitgeist’, it was directed by Peter Joseph. I put his theory of constant money devaluation to the test by converting the money I made as an English Teacher in Ho Chi Minh City into gold. I purchased my first ounce of gold right at the height of the financial sub-crisis, when gold was at around $900 USD an ounce.
Since February of 2008 I have watched the price of gold climb to what I once thought was unattainable heights. Now that I understand the banking system, whenever I look at the price of the precious metals I view that price only in comparison to worthless peices of paper. In my opinion there is no “bad price” at which to buy more gold any more. Any time you exchange fiat currency for something of real value like gold, is a good time in my opinion. Physical gold is real. Paper is paper. There is no comparison. Whenever the big banks sell short and manipulate the price of physical gold, causing it to go lower when priced in fiat dollars, I cheer because it means I can buy more with my meager salary.
To date I have stacked slightly more than 600 ounces of silver, most of it is constitutional silver, American and Canadian pre 1964-1967 coins. The rest is in silver Canadian Maple Leaf coins and bars. I also hold 3 ounces of gold. We’ve all heard the estimates of what gold and silver are really worth. Bix Weir has made the case for silver and gold at 1,000 times the current prices. And if that just sounds too nutty for you, the highly respected James Turk predicts $8,000 gold and $400 silver in just a few short years.
And with all of silver’s uses beyond its practicality and 5,000 year history as a monetary metal, I think it’s worth far more than gold. Knowing this, it becomes easy to understand why investor demand for silver is growing around the world while the precious supply is quickly diminishing… which brings me to an interesting little discovery I made in Taiwan.
I moved to Taiwan on the 18th of November with the hopes of starting a new life in Asia. So far finding work has been somewhat difficult as the number of foreign teachers here swells by the day, thousands arriving daily with their “degrees in worthlessness” (Thanks for that line Mr. Celente). But that doesn’t stop me from stacking, so I went down to the main Taiwan Bank in Taipei and tried to buy some silver bullion. A very nice lady at the counter told me that they were sold out of silver, but said that if I wanted to purchase some gold I was welcome to do so!
Think about that for a moment. Right now silver bullion here is more rare and harder to come by than gold bullion, and silver is not even held in high regard here – in fact, it’s considered to be a crappy precious metal! The lady told me that the warehouse had no silver in stock and that there was a waiting period to get silver, although she refused to tell me how long the wait would be.
I was able to pick up a nice 100g silver “art” bar, a piece you will not find in North America or Europe. It’s a genuine centenial formosa dragon silver bar to commemorate Taiwan’s independence from China. It cost me DOUBLE the spot bullion price, but hey, it’s a damn fine souvenir.
Asia is booming and the Taiwanese love Western-style consumption. Gold is still very popular in Asia and it is advertised openly at all the banks, there are even gold savings accounts. In fact, there are even not-so subliminal billboards that illustrate how GOLD trumps Federal Reserve Notes. I found this one outside of the bank near my apartment, and nearly all banks around Taiwan use imagery of gold in their marketing.
Gold is embedded in the culture here.
Unlike in Vietnam very few Taiwanese keep their gold in physical form. Just as in America, a lot of people are going to see their electronic savings vanish into thin air, and then they will know real poverty. When the meltdown finally arrives, suddenly that wrinkled old man with the tattered clothes selling water, camping supplies and preserved foods will have a whole new status in life. Fortunately, at least for now food here is stil cheap, a decent meal only costs me a dollar.
Central banks in Asia are regularly among the top purchasers of gold. Gold is pressed more deeply into the DNA of the government and the citizens here than it is in the United States. I think the entire world will be in for a rough ride when the financial SHTF, but I think that this side of the world will be better equipped to deal with it. At least here the people have some working knowlege of and appreciation for the true value of precious metals.Help us spread the ANTIDOTE to corporate propaganda.
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