Tom Cloud provides an update on the Chinese SDR and gold announcement. He discusses several reasons why the Chinese have not made a public how much gold they hold in their official reserves. This is the first currency added to the IMF – International Monetary Fund SDR (Special Drawing Rights) in sixteen years.
Tom also shares his thoughts on what would happen if the Fed does get the authority from Congress to start buying stocks. While I believe the Fed & U.S. Treasury have already been buying stocks via the Presidents Working Group On Financial Markets secretly, once they can do it publicly, then it is a sign the the END IS NEAR.
Lastly, Tom Cloud now believes in owning 33% of ones assets in the precious metals. This is much higher than the standard 5-10% allocation recommended by some of the more well-known gold analysts, such as Jim Rickards. Tom explains the reasons he believes it is important to have one-third of one’s wealth in the precious metals
Tom also recommends for anyone who hasn’t listened to the Cloud Hard Assets Precious Metals Webinar with the SRSrocco Report, to check it out below. There is a lot of good information to help educate new investors to the precious metals industry.
If you want to SIGNUP to Tom Cloud’s Precious Metals Email Updates, you can do so by using the form below:
Lastly, if you haven’t checked out our new PRECIOUS METALS INVESTING section or our new LOWEST COST PRECIOUS METALS STORAGE page, I highly recommend you do.
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JIM willie.Same should exist in english.
The addition of the Chinese Yuan into the SDR is something that is going incredibly unreported by the deceiving MSM. This is HUGE! I see this as just one more step closer to them taking over as the reserve currency of the world. Gold is for the long haul and is going MUCH MUCH higher.
Title:Gold instead of dollars.First signs for a new order in the currency system?
“First signs for a new order in the currency system?”
no-one is going to use gold in any major currency system again.
1) the velocity issue alone would drag the economy back to 19th century capabilities.
2) if gold is valuable and gold-based currency is exchangeable with fiat debt currency then the gold will be bought out by fiat debt currency overnight.
3) if any currency is a) “gold backed” and b) not exchangeable for gold then it’s no different than any fiat currency and will be subject to the same abuses.
Officially it won’t gman. Unofficially ‘they’ don’t have a f*cking choice as soon as their 300+% debt/gdp ratio stops working due to diminishing returns in net energy per capita.
Still don’t get it huh?
I get that all CBs own gold, and gold is owned by the IMF, not sure about World Bank or BIS. What I have yet to see is, what is the value of the IMF gold against their SDRs. Or anyone breathing a word about addition of gold to the SDR basket. Anyone have info?
Well, not officially.
“Still don’t get it huh?”
(is this a dis-info site or something? starting to think it is.) the whole, entire, intentional, deliberate, malice-aforethought purpose of the plussing debt/gdb ratio is to crash everything that works for us, leaving “them” with everything and us 1) with nothing yet 2) indebted to them. gold? gold-backed currency? “they” won’t need it.
1) velocity of money is already slothish and will remain so when global debt well exceeds global ability to pay. Also, 19th century economic expansion at times rivalled 20th century
2) your point only works with gold at these prices. A gold price reset to at least $10k an ounce is about the ONLY solution to the debt problem (you can just forgive debt but that will destroy capital and piss off the worlds richest and oldest families – so its just not going to happen without some form of compensation, and historically that form of compensation has been….. I’ll let you guess
3) this point of yours is correct. Meaning, if the IMF go for a pretence of a return t a gold standard it may facilitate financial sector casino capitalism in the short term but only at the long term expense of the new global financial order and may limit its shelf life from 50-80 years down to 20-30
“velocity of money is already slothish and will remain so when global debt well exceeds global ability to pay.”
heh. you think velocity of money is slow now? today when you swipe your card to pay for gasoline, the electronic amount is factored into somebody’s spreadsheet algorithm for nationwide profits/distribution/sharepayments calculations THAT MINUTE. moving to a strictly physical currency would slow things down so badly it would be like replacing someone’s blood with jello.
“19th century economic expansion at times rivalled 20th century”
rates, sure. locally, sure. volume across range, forget it.
“A gold price reset to at least $10k an ounce is about the ONLY solution to the debt problem”
(gosh, where do I begin … I know, at the beginning) talking about $xx/ounce shows misunderstanding. the federal reserve dollar is fiat debt. it cannot be repaid. it is not meant to be repaid. revaluing gold to $10,000/oz solves nothing. revaluing gold to $1,000,000/oz solves nothing. the debt will continue until the dollar crashes – and when it does, it will take the entire economic system with it, because 1) it’s all bound up with the dollar and 2) gold cannot serve as money in any system above that of the 19th century, and 3) if the economy crashes to that of the 19th century it will not stop there it will continue on all the way to the 10th century (europe, not byzantium/baghdad)
As soon as the unprecedented leverage through cheap oil goes into reverse, all this chatter about the fogs of fiat won’t matter.
It’s not money. It’s a promise of future growth. And that won’t happen. So it will blow up, SDR or not.
Yuppp! Gold and silver will do fantastic in the coming crisis, but actual money is binary code.
Can I ask, why only 30% PM’s? Where do I put the other 70%? Why not 70% in PM and 30% in fiat? ….only for dry power purposes.
Since I’m a total amateur with very little money, I simply have some ETFs that should do well when SHTF, and some PM mining stocks and ETFs. Since according to smart guys like Harry Dent and Mike Maloney we’re still in deflation, I think the time to go “all in” PM – first gold and then silver – will be next year. PM mining stocks should also do fantastic
“we’re still in deflation”
yes and no. what is happening is neither inflation nor deflation, it is wealth transfer. the “global elite” “international financiers” “deep state” are increasing the amount of money they hold and decreasing the amount of money we hold. they have more, we have less. we work harder and pay more and have less, they work less and pay less and have more.
anyone who talks about “inflation” or who talks about “deflation” is misleading or misled. it’s both, against us, for them.
“Where do I put the other 70%?”
the smart-ass answer is “beans, bullets, and band-aides”, meaning food, personal self-defense, and medical aid (’cause you’re gonna need it).
Sorry, that wasn’t very precise. There’s assets and real living cost inflation, but commodities are “deflating”. Commodities do exactly the same regardless of price, so their real value never changes.
The real doozey however, will be the implosion of the derivatives, debt and asset bubbles. There will be absolutely no doubt about there being deflation. Then the really huge wealth transfer will happen.