Is Gold THE ONLY Choice?
Gold hits record near $1,120 an ounce
We know that debt is defaulting at record rates in America. Debt is over $50 Trillion Dollar asset class. It is the single largest asset class and is responsible for generating trillions of dollars of income per year.
It drives income to our banks, insurance companies, pension plans, mutual funds, corporations, and families.
As revenues decline, debt is deteriorating to such an extent that for the first time in American History, banks are being encouraged and allowed to lie about the value of assets. If you thought mark to myth was a gray area, this is black and white.
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How bad must conditions be encourage deception in accounting and misrepresentations to shareholders? If banks are lying...who else is? Pension Funds? Mutual Funds? Bernanke? Congress? How can anyone have confidence in what is represented by anyone if lying is condoned.
If you are a family or small business, and the debt you hold is defaulting, you don't have access to free money from the Fed to cover your loss. Based on the upward movement of Gold, it is getting clearer and clearer that fewer and fewer have confidence in currency or what is being represented anymore.
Physical metal has been a store of wealth for thousands of years.....when we know that banks are lying, what else can we trust in this age of deception other than the physical metal in your hand?
If money is a myth or deception....what is gold worth???