With only 1% of world financial assets invested in gold, very few so-called investment experts have any understanding of the yellow metal. So during the 22-month correction in the gold price, most of the 99% who don’t own gold have all been calling for the end of the bull market.
What most of these people don’t understand is that gold is not in a bull market. It is paper money going down, rather than gold going up. For 5,000 years gold has been the only money which has maintained its purchasing power. Every single currency has been destroyed throughout history, in a permanent bear market. Voltaire was so right when he said in 1729 that “paper money eventually returns to its intrinsic value – ZERO.”
We have just started the acceleration phase of the upmove in gold (and silver). Gold is up $20 today, to almost $1,400 and silver up $0.65 to $23.75. But this is just the first phase of a continued collapse of paper money until most currencies reach ZERO. It is not likely to take that many years.
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