What are Rick Rule & Doug Casey Buying?
Full Transcript here:
FutureMoneyTrends.com: Greetings and thank you for joining us at FutureMoneyTrends.com I’m here with Jay Taylor. He’s a very famous mining analyst. For anyone who’s ever wanted to invest in gold or silver or oil, even other investments outside of the resource sector. Really he is the guy that really kinda of can guide you through the economy, and he’s on the same page and actually is a leader in helping people understand what’s going on in the economy right now. Jay is with jay Taylor media and you may also know him from MiningStocks.com. Jay thank you so much for joining us.
Jay Taylor: Oh, it’s my pleasure.
FutureMoneyTrends.com: Jay, in your recent article you mentioned a visit to Portugal and their depression. And you realized that country was in a depression and now that multi-national banks and other creditors have taken control of some of their major infrastructure projects. You then went on to say that ‘we gotta be aware of these global elites and what they’re doing as far as bankrupting our people and governments.’ My question to you is: how do you survive and possibly thrive in this environment of theft and wealth transferring and extreme market manipulation?
Jay Taylor: Yeah, I think what you have to do is first of all that you have to recognize that there is manipulation going on and try to understand what it is and then act accordingly. And of course the masses of people, don’t get it, they don’t believe it. They’re content to take at face value what they’re told by the mainstream media and what people really have to understand is that the manipulation is systemic. It is the fiat currency itself is a manipulative tool that allows those to control fiat money to reallocate wealth from those that produce it; Id’ like to say the miners, the manufacturers, the farmers, the inventors, people that are actually doing things that are of value to other human beings are not getting their fair share. Instead the government and the Federal Reserve and the banking system, that has control and has first dibs at new money creation that really end up becoming more and more wealthy. So just by being in the system and holding dollars you are being taken advantage of. So what you have to realize is you need to get as much as possible outside the system. And the one way to reduce the systemic risk is to trade those fiat dollars, which are really worthless, they have nothing of intrinsic value, they are really just a con game, and they need to exchange those dollars for gold and silver, real estate, I would say diamonds, I would say other things that are of tangible value. That no matter what the currency does, you still have possession and ownership of those assets. Some other ideas might be to go to digital forms of wealth, like bitcoins. I’m not suggesting that’s for everyone but it might be good for some people. If you’re wealthy enough I would suggest people might do well to do what my friend Doug Casey and Jeff Berwick are doing and that’s investing in other countries and different places. Diversify your assets to the extend you’re able to.
FutureMoneyTrends.com: Now what about the blatant manipulation of the gold price? Can you help us understand what’s going on behind the scenes?
Jay Taylor: Yeah, I think there is a blatant manipulation of the gold price, I think it’s a good way of putting it. I don’t know that everybody, all the traders on Wall Street, I don’t necessarily subscribe to everybody that is trading for JP Morgan or Goldman Sachs or these big bullion banks are necessarily knowingly manipulating the gold market. I don’t think so at all. I think they’re all acting in what they see as their own best interest. But the best interest of Wall Street is not to have people opt out of currency and go in to gold. They wouldn’t have any sales left, they wouldn’t be able to sell any stocks or bonds or derivative products of anything else if people just went back to owning the physical metal. So Wall Street has a vested interest, Washington as much as Wall Street has a vested interest in keeping people conned into owning paper assets. So I think there is very little doubt in my mind. For example, somebody pointed out that when JP Morgan, which is by far the predominant player in the futures markets for gold and silver. That when JP Morgan, when they are taking delivery, or when they are delivering gold, when it’s a delivery month for them, you’ll see the gold price go down very dramatically. Probably so that they can go out and secure gold at lower prices. And how do they do that? Well they can just go in to the futures markets, which have a 100 times more volume than the paper markets, than the physical markets, and just overwhelm the headline price that everybody sees by driving the price lower, then go back and cover up. Cover their shorts the next month.