Europe, says James Turk, founder and chairman of GoldMoney, is in the midst of two crises—one in the banking sector, the other related to economic activity, and capital is needed to solve both. As to the allegedly strong dollar, Turk, in this interview with The Gold Report, suggests comparing it to the price of gold rather than other fiat currencies for a better picture. And the world’s newest currency—Bitcoin—has a lot in common with one of the oldest—gold. [Read more...]
Gold expert James Turk says, “Mr. Bernanke is so anti-deflation he’s willing to risk hyperinflation, and we are on this path of hyperinflation given the policies we are following.” Turk contends gold is a good value right now. Turk says, “Because it is money outside the banking system, it doesn’t have any counterparty risk, and that is very important as this crisis continues to unfold.”
Turk predicts, “Either we cut back on spending or the dollar is going to collapse. . . . Those are the two choices.” Turk’s advice, “By owning physical metal, you are preparing for what looks like a collapse of fiat currencies. In fact, I call the environment we are in now a fiat currency bubble.” Turk predicts gold will reach “$11,000” per ounce in the next five years.
Turk goes on to say, “It might come sooner. It depends on when confidence finally breaks, and we’re getting very, very close to that stage. There’s nothing holding the dollar together but confidence.” Join Greg Hunter as he goes One-on-One with James Turk. [Read more...]
Chris Martenson has released an excellent interview with GoldMoney’s James Turk regarding the gold and silver markets after 2 years of consolidation.
Turk states he expects 2013 and 2014 to be big years for both metals, and that we are approaching the point where the cartel loses its ability to control the gold and silver markets to the upside as confidence in the fiat system is lost.
Turk states that he expects gold to achieve $8,000/$10,000/oz during the 3rd phase of it’s bull market when the public becomes involved and a mania develops, yet states that gold’s gains will be modest on a percentage basis compared to what’s in store for silver.
Chris Martenson’s full MUST WATCH interview with James Turk is below: [Read more...]
In the face of this week’s massive cartel intervention knocking down the metals in the wake of QE4, James Turk has just revised his $8,000 gold target- but NOT to the downside.
Turk states he now expects gold will surpass $8,000 an ounces in the next 3 years.
“Recalling that gold was $350 back in 2003, and the DOW Jones Industrial average was about 9500, I forecast that gold and the DOW would be 8,000 some time between 2013 and 2015. Given that that this time frame is now upon us, I would like to discuss the basis on which I made that forecast, and more importantly, update it in one significant way; I now expect that the price of gold will rise higher than $8,000 per ounce as I will explain.“
Turk’s full update below:
GoldMoney Chairman James Turk outlines the reasons why “everyone should have a precious metals portfolio.“ James outlines the stark fiscal facts about government debt problems across the developed world, and why central banks’ determination to devalue the currencies they issue is causing a bull market in precious metals. He demonstrates why gold remains undervalued, despite the great gains seen in its price over the last 11 years, and a means of assessing whether or not the yellow metal is fairly valued or not.
James argues that we are living in “fiat currency bubble”, similar though many magnitudes greater than the recent housing bubbles seen in America, Ireland, Spain and other countries, or the “Tech bubble” in NASDAQ stocks in the late 1990s. The USA is racing towards hyperinflation, courtesy of the Federal Reserve’s monetisation of US government deficits.
Full interview below:
GoldMoney has released an interview with Chairman James Turk about his study of the above-ground global gold stock, gold’s role as money, and the coming fiat currency collapse. They discuss the discrepancies between official gold stock figures and the study’s carefully calculated figures, going all the way back to Roman times and using the year 1492 as a pivotal calculation point — which was when the Spanish Empire began its imports of gold deposits discovered in the Americas. In contrast to the widely referenced number of 171,000 tonnes of above-ground gold, James’s study suggests that it is actually closer to 155,000 and therefore overstated by about 10%.
Full interview below:
GoldMoney has released an interview with Chairman James Turk about his claim that central banks are holding less in their physical gold reserves than many assume. Turk explains the problem that central banks report gold and gold receivables as one line item on their balance sheets. This allows them to lease out physical gold in return for paper claims — posing the question of just how much physical gold is left.
He also discusses the Gold Money Index and the gold-based Fear Index. Both show that gold remains undervalued compared with historical norms. He also talks about how close we are to a “Golden Cliff”, where the western central banks stop lending out their gold, and what the systemic repercussions of this are likely to be.
Full interview below: [Read more...]
James Turk With Lauren Lyster on the Overestimated Gold Stock, German Repatriation, and an EU Crisis!
Welcome to Capital Account. We talk to James Turk about the recent spike in precious metals. Also, according to an essay published by the Gold Money Foundation, the stock of gold is over-estimated by sixteen-thousand tons, with a nominal value of over 800 billion dollars. We ask James about his piece, about the German gold repatriation, and why it matters.
Full interview below:
Speaking in a video presented at a Brink’s Canada’s event in Toronto on September 28, GoldMoney’s James Turk outlines the reasons why “everyone should have a precious metals portfolio.”
Turk outlines the stark fiscal facts about government debt problems across the developed world, and why central banks’ determination to devalue the currencies they issue is causing a bull market in precious metals. He demonstrates why gold remains undervalued, despite the great gains seen in its price over the last 11 years, and a means of assessing whether or not the yellow metal is fairly valued or not.
James argues that we are living in “fiat currency bubble”, similar though many magnitudes greater than the recent housing bubbles seen in America, Ireland, Spain and other countries, or the “Tech bubble” in NASDAQ stocks in the late 1990s. The USA is racing towards hyperinflation, courtesy of the Federal Reserve’s monetisation of US government deficits. [Read more...]
Félix explains the working mechanisms behind Bitcoin, which is a digital currency. He talks about the decentralised Bitcoin protocol, which is the DNA of Bitcoin and assures that bitcoins will not be double-spent. He states that Bitcoin can’t be shut down unless the whole internet gets shut down.
They discuss the differences, but also the similarities between Bitcoin and digital gold currencies. James Turk points out that using tangible assets as money eliminates counterparty and payment risk. Félix states, that the amount of minable bitcoins is limited similar to the amount of gold.
Furthermore they talk about the security of Bitcoin exchanges and the difference between money and currency. Both endorse the idea of bringing competition to currencies and developing new ways to transact more efficiently. [Read more...]
JAMES TURK: This Always Ends the Same Way, HYPERINFLATION — $400 Silver & $8,000 Gold Between 2013 – 2015
Our friend Sean from SGTReport.com has released an interview with James Turk, Founder of GoldMoney from Spain discussing how the FED’s latest actions spell doom for the Dollar. James reminds us that what is happening in the United States RIGHT NOW thanks to the privately owned Central Bank always ends the same way: In disaster for the currency.
We’ve seen it before: Weimar Germany, Zimbabwe, Argentina, Serbia… and we’ll soon see it in AmeriKa. James also revisits his decade long prediction of $400 silver and $8,000 gold. Turk sees these levels occurring as early as 2013-2105, along with hyperinflation. The fuse has been lit and time is running out. [Read more...]
GoldMoney’s James Turk has released an interview with Félix Moreno de la Cova discussing the recent action in the precious metals and currency markets.
With the announcement of QE3 by the Federal Reserve last week the prices for gold and silver continued to surge higher. However Félix points out that September is traditionally a strong month for the metals which is why they might have rallied even without further monetary stimulus. He states that after a year of consolidation the stage is now set for much higher prices.
He points out that the competitive devaluation of the major currencies is continuing which in the end will lead to the destruction of all fiat currency.
Full interview below: