Mike Maloney Gold at $5,000 Still Absurdly Low

Mike Maloney, author of Rich Dad’s Advisors: Guide to Investing In Gold and Silver: Everything You Need to Know to Profit from Precious Metals Now talks about the prospects for precious metals investing.

He feels we are in a stock market bubble, currency bubble, debt bubble, real estate bubble and he feels by the end of the decade we will have a global change in the monetary system. In our debt based currency system every dollar is backed by the power to tax and at the US levels of debt it is the need to tax you in the future and to the day you die.

There is no time in history when paper currency has been so overvalued and gold has been so undervalued.

The unfolding dollar implosion will bring with it an increasingly frequent crises while at the same time our officials will be telling everyone things are fine. If you are asleep, as many will be, many will wake up with the price of gold doubling overnight.

Derivatives are a time bomb waiting to happen and if there is a derivative meltdown we could see confiscation of retirement accounts as we have seen in Poland and Venezuela or confiscation of bank accounts like in Cyprus.

China has become the world’s largest producer of gold and none of their production is leaving the country the China central bank buys it all and even imports more.

When people in the middle class become desperate in this coming world financial convulsion it has often lead to the rise of despots like Hitler and Mussolini in the past because they tell people who were not prepared that they can show them the way out.

Rich Dad's Advisors: Guide to Investing In Gold and Silver: Everything You Need to Know to Profit from Precious Metals Now

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