"We have long warned that a consequence of a sovereign debt crisis in various countries and coming in the US , would be currency devaluations and an international monetary crisis. Slowly but surely various commentators are now coming to that conclusion.
According to a new book launched this month, 'In Gold We Trust?' a currency crisis is coming and people should buy gold to protect themselves.
Michael Green, co-author with Matthew Bishop of ‘In Gold We Trust?’, explains to Gregg Greenberg of The Street in the video why a currency crisis is unavoidable and investors need to protect themselves with gold.
Bishop is the US Business Editor and New York Bureau Chief of The Economist and Green is an economist and an author who has written books with Bishop.
"There is a crisis going on in money that is going to run and run and run. So there is a pretty good case for being long on gold" says Green.
"We have got used to the idea that paper money issued by governments is what money is but if you don't have confidence in that money people are going to be looking for alternatives.”
“So I think the point we want to make in the book about gold is don't think about gold is going back to some historic past, some true money. Think of gold as being the first mover in the new evolution of money where we are going to have to find lots of different monies if government backed money collapses.”
Green says that he believes that “the crisis is only really starting”
at http://www.marketoracle.co.uk/Article33582.html
According to a new book launched this month, 'In Gold We Trust?' a currency crisis is coming and people should buy gold to protect themselves.
Michael Green, co-author with Matthew Bishop of ‘In Gold We Trust?’, explains to Gregg Greenberg of The Street in the video why a currency crisis is unavoidable and investors need to protect themselves with gold.
Bishop is the US Business Editor and New York Bureau Chief of The Economist and Green is an economist and an author who has written books with Bishop.
"There is a crisis going on in money that is going to run and run and run. So there is a pretty good case for being long on gold" says Green.
"We have got used to the idea that paper money issued by governments is what money is but if you don't have confidence in that money people are going to be looking for alternatives.”
“So I think the point we want to make in the book about gold is don't think about gold is going back to some historic past, some true money. Think of gold as being the first mover in the new evolution of money where we are going to have to find lots of different monies if government backed money collapses.”
Green says that he believes that “the crisis is only really starting”
at http://www.marketoracle.co.uk/Article33582.html
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