'Gold and silver will return to the historic role of sound money': Fitzwilson
Robert Fitzwilson, founder of the Portola Group, says efforts by central banks to revive ailing economies via manipulation of the monetary system is sure to end in disaster, and that in the wake of collapse "gold and silver will return to the historic role of sound money."
Speaking to King World News Fitzwilson notes that efforts by central banks to resuscitate the economy by pushing the levers of the monetary system are devoid of successful precedent in history, and compares such efforts to the death-defying stunts of aeronautical acrobatics.
In Fitzwilson's opinion such efforts will bring catastrophe, with the outcome that "our monetary pilots, focused on maintaining formation with the Fed, plow us all into the economic terra firma."
In the aftermath of catastrophe the only means of preserving one's wealth will be to hold tangible assets – which central banks first sought to acquire by inflating away the their currencies:
A growing population will maintain the long-term value of scarce resources even if there are declines following a monetary collapse. Gold and silver will return to the historic role of sound money. Holders of those metals will see a dramatic revaluation to the upside. If history is our guide, the new wealthy will be those who had the wisdom to get out of paper money before the end of the current system.