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Thursday, November 28, 2013

The reality of GOLD and the current global economy

GOLD should be $40,000 per ounce now

"The reality is when we last were on a gold standard there was a much smaller global economy.  The global economy now is six, seven, eight times larger and the amount of gold in the world (the price) has not fundamentally gone up.  So for gold to replace M1 for gold to become a core part of the monetary supply we need a $40,000 per ounce gold price theoretically and a fundamental transfer of wealth from a certain people to other people and I don't think central bankers around the world while they might lose control of the monetary supply I don't think they're going to lose control to a degree that they are willing to give up; they're willing to hand it to the gold bugs for better or worse."
--Benjamin Cox 

Benjamin Cox doesn't prefer gold and says people will go to cash in a financial crisis.  Instead it's time to consider PLATINUM and RHODIUM.  But he does say if you're going to buy metals to buy physical.

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