Do you believe that for a second? Do you think I do? Absolutely not. But, what if it was? What would that mean? It's often suggested that I am just the eternal optimist when it comes to gold - a true gold bug, if you will. However, as I have said on a number of occasions, I long for the days prior to the 2008 credit crisis. Yes, those were the days. Credit was cheap, real estate offered many opportunities to buy, build, sell, rent . . . you name it. And stocks! A monkey with a dart board could pick 'em. Even gold was on the move as those wary of inflating bubbles were not totally buying into the Shangri la theory that most investors embraced. It was hard to be in the wrong business.
Then BAM! Seemingly, overnight, home values were cut in half. Commercial and residential construction sites were abandoned leaving half-done jobs standing as though aliens abducted all the workers. Perhaps worst hit were stocks as we watched them fall from all-time highs. Investors realized, much of their wealth was borrowed and the time had come to cover margin calls. Sell sell sell was the cry! Then the crying.
And what about gold? Even gold got hammered. Right in the middle of a bull market that saw gold prices rise above $1000 for the first time ever, gold prices dropped more than 20%. If only the Mayans could have left October of 2008 off the calendar, maybe the devastation could have been avoided.
Then, to the rescue came the Fed and government with printed money to fuel a rebound. This was a crucial time for all of us as we scrambled to find an investment we could rely on to take us the rest of the way to retirement. Some went back into stocks and stocks moved higher. Others stuck with gold and were vastly rewarded as the gold price, since that major pull-back, has doubled, far outperforming any rebound in stocks.
Now, as the economy and the markets come down off their printed money high, Gold and precious metals prices have once again pulled back. This would be the fourth major pullback since the bull market started in 2002. A bull market in gold that has seen prices, even at today's levels, rise more than six-fold in less than 10 years. So Really! Is the Gold rally over? Or may this be the opportunity of a lifetime to take advantage of what may well be just another routine pull back in metals prices?
Fast forward! What do you see? Do you see $15 trillion of debt vanishing overnight? Do you see job growth, a housing rebound and economic recovery without more printed money being injected into every arm of our economy? Or, do you see the birth of inflation, perhaps hyperinflation, brought on by massive printing of world currencies and especially the dollar?
It does not take an economic genius to recognize the death of the dollar, as chronicled in a new video at EndOfTheDollar.com, is occurring right before our eyes. Do yourself a favor and take a close look at how monetary policies have affected the markets, the dollar and gold over the last 10 years, then decide where to place your bets to protect the future purchasing power of your savings and retirement accounts.