James Turk on the US Dollar, the Euro, Hyperinflation, Gold And Silver

James Turk’s presentation on the gold price and the US dollar

Added: 05.06.2011

James Turk of the GoldMoney Foundation speaks about currency devaluation and the rising gold price. How the gold price is rising against all major currencies and monetary policy is political, having abandoned all pretence of seeking monetary stability. He warns of the dangers of a hyperinflationary crisis. James also explains why gold should be considered money and not an investment.

He also talks of the coming dollar collapse and the waterfall decline in the dollar, especially since Ben Bernanke’s words on QE. He talks of different examples of hyperinflation from paper money hyperinflation in Weimar Germany to deposit currency hyperinflation in Argentina. The presentation was held on 29 April 2011 in Munich, Germany.

1 thought on “James Turk on the US Dollar, the Euro, Hyperinflation, Gold And Silver

  1. Hello:

    I am worried that all the fiat currencies of the world will go under and thus we will go one of these days into a hyperinflation situation.

    I am building up a gold and silver collection of coins – primarily Canadian Maple Leafs and American Eagles – in case of a currency collapse situation. I have bought before in the past the following:
    1) 1-ounce Silver Canadian Maple Leaf Coins
    2) 1-ounce Silver American Eagle Coins
    3) 1-ounce Silver Sunshine Mint Rounds
    4) 1/2-ounce Silver Sunshine Mint Rounds
    5) 1/4-ounce Silver APMEX Rounds
    6) 1/10-ounce Silver APMEX Rounds
    7) 1-ounce Gold Canadian Maple Leaf Coins
    8) 1-ounce Gold American Eagle Coins
    9) 1/10-ounce Gold American Eagle Coins
    10) 1/20-ounce Canadian Maple Leaf Coins

    So far, I have built up a sizable collection of gold and silver with about half my dollar amount value in gold and about the other half in silver.

    I bought the the Silver Rounds because the Silver Canadian Maple Leafs and American Eagles do not come in smaller increments than 1-ounce. I wanted silver in smaller increments than 1-ounce for bartering purposes that do not require a full one ounce of silver and so I reasoned that purchasing Silver Rounds from well-recognized Mints such as APMEX and Sunshine Mint was a good route to go for purchasing silver for barter purposes, since I feel that if hyperinflation does hit, these rounds would be readily recognizable since they come from well-established private mints.

    As indicated in the http://www.cmi-gold-silver.com/small-survival-gold-silver-coins.html hyperlink, I’m interested in purchasing Gold & Silver for survival purposes. Again, I’m primarily interested in purchasing precious metals to prepare for a possible currency collapse situation where gold and silver will be used for bartering and is real money. So, the liquidity of the coin or round as well as the bartering purpose to get goods and services is important to me. I’m not interested in purchasing precious metals for numismatic value but instead I’m purchasing precious metals for the content of the gold and silver itself.

    According to the http://www.cmi-gold-silver.com/small-survival-gold-silver-coins.html hyperlink, the size of gold coins recommended for bartering purposes are 1/4-ounce and 1/10-ounce.

    I’m leaning towards purchasing the 1/10-ounce and 1/4-ounce Gold Canadian Maple Leafs, but I have found that Monarch Precious Metals offers their own brand of 1/10-ounce Gold Rounds that are less expensive than the equivalent Gold Coins. To give you an idea, as of Sunday (6/10/2012), the prices of various 1/10-ounce Gold Coins and Rounds from various places are:
    1) Gainesville Coins (Dealer): 1/10-Ounce Canadian Maple Leaf Coin:
    Bank Wire Price (requires $2000 order minimum): $178.72
    Credit Card Price: $183.90
    2) Gainesville Coins (Dealer): 1/10-Ounce American Gold Coin:
    Bank Wire Price (requires $2000 order minimum): $178.72
    Credit Card Price: $183.90
    3) APMEX (Dealer): 1/10-Ounce Canadian Maple Leaf Gold Coin:
    Check of Wire Price: $181.84
    Credit Card Price: $187.30
    4) APMEX (Dealer): 1/10-Ounce American Eagle Gold Coin:
    Check of Wire Price: $181.84
    Credit Card Price: $187.30
    5) APMEX (Dealer): 1/10-Ounce APMEX Gold Round
    Check of Wire Price: $184.50
    Credit Card Price: $190.04
    6) Monarch Precious Metals (Dealer): 1/10-Ounce Monarch Precious Metals Gold Round
    Discount Cash or Online Banking Price: $171.07

    From the above prices, it’s not worth it for me to purchase the 1/10-Ounce APMEX Gold Round; it’s more expensive than the equivalent 1/10-ounce Canadian Maple Leaf and American Eagle Gold coins; I might as well buy the 1/10-Ounce Gold coins rather than the 1/10-Ounce APMEX Gold round since the Canadian Maple Leaf and American Eagle gold coins are most recognizable when it comes to gold in coin format.

    But…. the price of the 1/10-Ounce Monarch Precious Metals Gold Round is much cheaper. So…. here’s my dilemma….. Should I go the “safer” route and stick with the 1/10-ounce Canadian Maple Leaf or American Eagle gold coins or would a 1/10-Ounce Monarch Precious Metals Gold Round, which is 0.9999 gold, be just as easy to barter with and recognizable?

    When you had the hyperinflation situation in Argentina…. did it matter whether the gold was gold coins or rounds as long as it was gold? Or did it matter?

    If you may please address the above question(s), I would most greatly appreciate it. If you do not know the answer, if you may direct me to someone who does know, that would be great.

    Thanks,

    Franklin Perez
    (407) 694-7805

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