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Tidal Wave of Debt

July 22, 2022 By Philip Barton

Friday

I suspect that the currencies in general have reached peak strength – i.e., the P.O.G. (price of gold) will not fall any/much further.

That does not mean that it is about to head to ‘da moon’.

It will likely spend an unpredictable amount of time dawdling around this base before resuming its inevitable, inexorable upward thrust.

N.B. The timing of any market can never be stated with certainty

Do not forget, ever, that it is gold that is measuring the value of currencies. Does it seem plausible that currencies can continue to rise in the face of the tidal wave of debt that is cascading onto the financial beach?

I remember using around Au$420 to obtain an ounce of gold a few decades ago, and then wincing as it dropped back below Au$400.

Seems silly now.

Any worries in the present will seem just as silly in the not-so-distant future.

There is an old market maxim along the lines of: be right, sit tight.

Good advice.

Obtain as much gold and/or silver as you can right now. It may be your last chance.

Measure your wealth in ounces, not in paper.

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