MORE BLACK SWANS
In looking over gloomy economic forecasts on the internet, within a few minutes I found the following:
- Everyone is going to get wiped out.
- The coming financial devastation.
- Collapse of the world economy.
- The end is near.
I’ve been reading these extreme forecasts for 50 years and things have never been that bad. I believe we are going to have a nasty recession with continuing inflation, but thankfully America is not going to collapse and disappear. It may even be that this is an opportunity for some.
The demand for gold and silver has gone through the roof because of the banking crisis. Any new credit issues (black swans) will cause a further rush into these precious metals. Inflation appears to be a protracted issue and thwarting it with higher interest rates will cause people the world over to buy gold and silver. If you are positioned now in these metals, you should benefit from further problems that drive metals prices higher. In 1979-1980, my company had to pay our bank 23% interest. Interest rates were over 4 times higher than they are today before the inflation cooled off.
We are already experiencing tightness in the supply of coins and bars. Delays are increasing and availability is becoming an issue. It’s quite possible that physical silver and gold will be rationed or sold out completely. Now is not time to rely on paper transactions. Get the actual metal into your possession or stored in your name. Call us today at 1-800-328-1860 to check on the availability of silver and gold bars and coins.
