It seems Chris Duane of Silver Bullet Silver Shield has done somewhat of an about-face on his theory of selling your gold to buy silver. As his latest video is entitled “Top 17 Reasons To Own Gold Right Now”. Previously he has certainly been very pro silver.
In November last year we outlined why we didn’t strictly agree with Duane’s logic in only holding gold:
“If you’ve watched any of Chris Duane’s (of Silver Bullet Silver Shield) videos you’ll have seen him discussing the problem of a new gold standard bringing rise to new financial oligarchs. He even wonders whether Mr Gold himself Jim Sinclair is in fact one of these in a recent video.
So he believes silver is a better option than gold. One, because on an historic basis it is more undervalued than gold. And two, because from a consciousness or moral perspective he believes it is a better choice than gold. The theory being that since a government mandated gold standard will likely be something instituted and managed by the same elite running things now, extracting your resources from the system and turning them into silver will help bring about the end of the current monetary system.
Chris Duane also believes we need a complete collapse and reset in order to build something better.
Unfortunately as Hugo Salinas Price outlines in one of this weeks articles mentioned earlier, The Coming New Barbarism, it is dictatorship that often rises out of collapse. So a clean slate may not guarantee a better monetary construct to follow, although perhaps with the internet today that may up the odds a bit.
Personally we’d rather have a bit of both silver and gold. Just in case. We can understand Duanes argument for holding silver rather than gold from a “take down” perspective. But if we “only” get a government instigated gold standard redu, then it would seem wise to hold a chunk of the yellow metal as well.
Of course if the system is still controlled by the elite under a government mandated gold standard, then gold will be dominant but that doesn’t mean silver doesn’t still have the ability to gain much more value than gold.”
So it seems he has eased up a bit on his prior position which was silver only. Now saying there is room in every portfolio for gold too. He is taking a bit of stick for it too from what we’ve seen of a few comments. Of course he has always said “Listen to all and follow none”. So people shouldn’t be complaining as every individual should make up their own mind as to what position they take on gold versus silver.
Regardless of all this, the video is worth a look as it does outline 17 excellent reasons to own gold…
Here’s the written content of the video if you prefer to read or skim read than watch:
#17- Gold is the purest form of money- JP Morgan was once the most powerful banker in the world and he was quoted as saying, “ Gold is money. Everything else is credit. ” Once you truly understand this statement you will be on your way to never being poor again and creating generational wealth. Gold has all of the characteristics of money
(1) It must be durable, which is why we don’t use corn.
(2) It must be divisible, which is why we don’t use art work.
(3) It must be convenient, which is why we don’t use copper.
(4) It must be consistent, which is why we don’t use real estate.
(5) It must possess value in itself, which is why we don’t use paper.
(6) It must be limited in the quantity that is available, which is why we don’t use iron.
(7) It should have a long history of acceptance, which is why we don’t use bitcoin.
Gold is the purest form of money, even more so than silver, simply because it does not have many industrial uses.
#16- Everything else is credit- Think about it, literally every asset we are taught to invest in is simply a paper asset with counter party risk. Stocks, bonds, Munis, ETF’s, derivatives and insurance policies are just someone else’s promises to pay. Even Real Estate and businesses are really only worth what the buyer can finance for it. For example, what would be the cash value of your house versus a market with 30 year rates at 4%?
#15- All of the world’s currencies have a fatal flaw. The dollar, and all other currencies in the world, are debt based currencies that only come into existence when debt is created. When you sign a car loan for $20,000, the bank is not lending your $20,000, they are creating it out of thin air and it is backed by the contract you sign. The real scary thing is if all of the money in the world comes into existence like this, where then do we get the money to pay the interest?
#14- Generational debt based ponzi scheme- The ONLY way this system functions is that MORE debt must be created every year in EXCESS of the debt AND interest created the year before. Every generation ends up paying for the debts the previous generation incurred. This has a fatal flaw as there always comes a point where the accumulated debts become so large that it becomes impossible to even pay the interest on the debt.
#13- Inflation or Deflation… it doesn’t matter- Once any nation reaches the point where the accumulated debts become so large that they can no longer pay even the interest on the debt they have one of two fates.
Nations like Ireland, Greece and Spain that do not print their own currency, suffer massive deflation as their real wealth is drained from them until they eventually default on the debt.
Other nations like The US and Japan that do print their own currencies, eventually suffer hyper inflation where they continue to pay old debts with new money destroying the value of the currency itself by creating more and more of it.
True hyper inflations are not as much as a monetary event as it is a psychological event where the population realizes that they are getting screwed by the bankers and politicians that create all of this money to line their pockets and it is causing the dollar to lose value. The population eventually starts buying anything with real value and literally throws the paper money away. In the end of either case of inflation or deflation, the currency and the entire economy built off of it is destroyed.
#12 Gold cannot be printed- The finding, mining and refining of gold is an incredibly difficult process. The bankers can create trillions of dollar out of thin air to pay off their buddies, but they cannot do that with gold. Why would you work for and store your wealth in a rigged casino that can change the rules and values at any minute?
#11 Gold can be hidden- Unlike all of your paper assets, gold can be hidden for centuries, if necessary. With governments increasingly looking to steal wealth from bank and retirement accounts, having an ounce of gold in your hand is a very powerful way of taking back your soveriegnty. More importantly it can be used to create generational wealth.
#10- All paper money eventually returns to it’s intrinsic value… zero. There have literally been thousands of paper currencies that have been created and destroyed throughout human history and they all suffer the same fate and become worthless. Even the Dollar has become worthless. Since the foundation of the Federal Reserve in 1913 the dollar has lost 97% of it’s value. This has happened over the past 100 years and it has defaulted on is promise to pay in silver in 1964 and promise to pay in gold in 1971.
#9 Gold is stored energy. Gold is really valued by the amount of energy that is put into the finding, ming and refining of it. It is concentrated labor, energy and luck. Given that we are coming close to the end of an era of relatively peaceful and abundantly cheap energy it only makes sense to own gold knowing that resources are declining and life will get more expensive and dangerous.
#8- Even enemies trust gold. Gold is universally recognized as real wealth. Even enemies can trade gold without having to worry about counter party risk. You could go to any civilization around the world, in the past present or future, with a few ounces of gold and not even knowing the language and be able to buy everything you need. You cannot say that about any of the paper currencies or assets most people own today.
#7- The rest of the world wants Gold. The world hates the American Empire that has spread nothing but debt and death for the last few decades. They know that in order for our dollar to continue the US needs to protect the Petro Dollar trade which backs the dollar as the world’s reserve currency. The more that nations stop using the dollar to settle trade the less demand the dollar has globally. This means that all of those dollar we export consuming the world’s production will eventually come home and chase after fewer and fewer goods that we still have.
#6 Gold is rare- If you took all of the gold in the world and put it into a cube that would block would only have 65 feet sides. Usually we are trying to find ways to visualize the trillions of dollars spent every year, but 65 ft cube is pretty easy for a person to grasp. There is an estimated 155,000 tones of gold that has ever been mined throughout history, if it was equally divided amongst all of humanity would only work out to .7 ounces of gold for each man, woman and child on earth. We know that it is not equally divided and that the majority of humanity will never touch gold.
#5 The Golden Rule- He who has the gold will make the rules. You need to have real wealth such as gold and silver to make the transition to the next monetary order. All of the debts will be wiped clean and gold and silver will act as the basis for a new economic order as it is universally accepted as money. What are you doing to prepare yourself and your family for that day?
#4 The US is a Paper Tiger- So much of the power we have is just remnants of a time when the US was the number one energy and manufacturing power in the world. Those days are long gone. As we lose control over the Middle East like the failed attempt to start a war with Syria and Iran and even the fact that US has no diplomatic ties with Saudi Arabia right now means we are on the verge of losing the petro dollar. We don’t even produce anything more than doughnuts, because all of our corporations have sent their manufacturing capacity to Asia. Now we are consuming the last little bit of credit we have with the rest of the world as we amuse ourselves to death.
#3 Hard days are coming. It will not be long until those that create the energy and manufactured goods demand real wealth in return for their real assets. When that day comes, if you do not have real wealth you simply will have nothing to offer other than your labor. The scary thing is that most Americans do not have any real friends because of Facebook and no real skills because 70% of the economy is consumerism. This will lead most Americans fighting for survival as all of their paper wealth and economy collapses. Having an ounce of gold or silver is a buffer for you and your family from a very harsh reality that is coming.
#2 China and India are the past and future- Prior to the European colonization of the world, China and India combined for half of the world’s economic output. Only after the British colonized India and fought a 20 year Opium War with China, did that trend change and poverty hit those nations. Now these nations and many more like Russia, Iran, Indonesia and South Africa are wise to see the tricks of the Anglo American Empire and are buying gold to protect themselves from outsiders interfering with their prosperity.
Most Americans are not paying attention to the massive changes that are happening in the world today but the world is moving away from the US and their dollar like a meth head in the park. China has signed 15 bi lateral trade deals with major nations like Japan, Russia and Australia to dump the dollar in Bi Lateral trade. Russia is about to sign a Holy Grail deal with China to have the world’s largest energy producer power the world’s largest manufacturing power in the world without dollars. China, Russia and India are buying massive amounts of gold to back their economies and help with the transition to a new monetary order. The world in short is building another world without us and the US will find themselves on the outside looking in.
#1 Gold is made form collapsed stars! Throw out all of the historical, monetary and geopolitical reasons for owning gold. The very fact that gold is made from exploding stars is simply amazing. When you hold an ounce of beautiful gold and feel it’s weight and luster you will also feel how amazing it is to own something that can only be created by the incredible power of exploding super novas fusing elements together into creating the very dense and heavy metal known as gold. This gold is not from earth and is something truly spectacular to own in of itself.
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