The Coming Commodities Crash: TFN Amberger Smackdown 09/19/0
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he may be right (short term) and wrong (long), both. go to kitco com and read Howard Katz's articles that are archived under "more commentaries". he describes the 20 yr commodity pendulum. Jeff Rense had a recent guest who pointed out that the USD is being attacked deliberately as world reserve. now i know why. china wants this
position as being reserve currency as it gives them clout to paper over their own collapse while accelerating ours. but i think amberger makes v. good points here.
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Oil, copper, etc have gone down. The guy on the video was saying that the prices of these useful metals was increasing along with the share market because they are used by developing countries e.g. China to produce goods for the American consumer. Gold doesn't really have any significant industrial use, so that would explain why gold prices haven't changed much.
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Furthermore, I can still use crude oil directly to heat my house. I can still make jewellery from silver & gold. I can still make batteries from Lead. I can still power a nuclear power station from Uranium.
I still have "use" for all of those things. I have no use for Ginnae Mae stock. I have no use for my Lehman Brothers stock. I dont have any use for any other paper stocks.
And I dont even have much use for cash. Cash is losing value constantly and I just don't need to buy that much stuff.
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no they haven't.
physical bars of gold still have value. physical silver still has value.
Paper prices have gone down.
Nobody wants paper
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He was proved right. Commodity prices have fallen through the floor.
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He was proved wrong by the passage of time.
The underlying "error" is what Blue Eagle has mentioned. Worthless paper is worthless paper and a gold bar is a gold bar.
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No no no. Commodities are "going up" because people are losing confidence in fiat currencies. If all fiat currencies go to their intrinsic value (zero), where would you want your wealth to be? You'd want it in something tangible. Now it is true that there will be a speculative bubble in commodities too and demand will contract, but they is at least real wealth in tangible assets.
BlueEagle8 3 years ago 3