When Coventry League writes about the plummeting purchasing power of the federal reserve note (aka the US dollar) because of the private, for-profit, partly foreign operative controlled1Allegedly. central bank (the FED)’s massive and ongoing printing/creation of dollars out of thin air, people eventually begin to listen and take prudent action to become their own central banks:
- Patriots increased their purchases of physical gold bullion (in this instance, American Eagle gold coins from the US Mint) by 40% year-over-year through May.
May 2022 Purchases Soar
What’s noticeable is people have begun nearly panic buying these coins during the month of May. Purchases in May 2022 were up an astounding 617% compared to purchases in May 2021!
Chart: YTD May Y/Y
Opinions of James Rickards
Rickards says the minimum gold price is $15,000 per ounce in the not-so-distant future. Rickards says depending on the backing and math, it could go up in value much higher. Rickards likes silver, too, and food for the common guy. Food prices are going to go much higher according to Rickards, and in some places in the world, he expects out right starvation.
Now You. Have you bought any physical gold or silver coins/bars? Have you positioned into another currency such as the Ruble, which is now informally backed by oil/natural gas and gold?
Let us know in the comments.
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