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THREE KINDS OF MONEY
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WHO IS THE MOST PRODUCTIVE?
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THE DARK AGES BEGIN
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100 YEARS OF PAPER
MONEY COLLAPSE
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DEBT EXPLOSION
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THE DESTRUCTION OF PAPER MONEY
Ounces of gold bought for $ 1,000
Investment Year Ounces Gold
Price
%
change
$1,000 1911 50 $ 20 -99%
$1,000 1971 28 $ 35 -98%
$1,000 1999 4 $ 250 -86%
$1,000 2002 3 $ 300 -83%
$1,000 2011 0.5
$1,850 -
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Target
The Dow is down 86%
against Gold in 11 years
DOW JONES vs GOLD
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DESTRUCTION OF THE DOLLAR
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GOVERNMENT DEBT WILL NEVER BE REPAID
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BENEFITS SUPERVISOR
SLEEPING by LUCIAN FREUD
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EU’s MILK COW SLEEPING
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DEBTS THAT WILL NEVER
BE REPAID • Government, state, city, municipality debts
• Central bank debts
• Housing loans, personal loans, car loans
• Credit cards, student loans
• Commercial mortgages
• Toxic bank debt
• Derivatives
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LOSE - LOSE
• Deflation or Inflation – Austerity or QE
• Deflation – collapse of the financial system
• No bank will survive with deflation
• Money printing – QE
• Currency weakens
• Creates hyperinflation
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HYPERINFLATION
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KICKING THE CAN
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CONSEQUENCES • Government deficits explode
• Unemployment surges
• Major dollar fall – also other currencies
• Interest rates surge
• Most assets financed by credit bubble fall
• Exchange controls
• Financial system will fail
• Social structures break down
• Wars
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A STEALTH MARKET
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THE MINISCULE GOLD MARKET
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TOO LATE TO JUMP ON THE
GOLDWAGON?
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GOLD TARGETS
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WEIMAR GOLD
From DM 100 to DM 100 trillion
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THE FINAL COLLAPSE
“THERE IS NO MEANS OF AVOIDING THE
FINAL COLLAPSE OF A BOOM BROUGHT
ABOUT BY CREDIT EXPANSION. THE
ALTERNATIVE IS ONLY WHETHER THE CRISIS
SHOULD COME SOONER AS A RESULT OF A
VOLUNTARY ABANDONMENT OF FURTHER
CREDIT EXPANSION, OR LATER AS A FINAL
OR TOTAL CATASTROPHE OF THE CURRENCY
SYSTEM INVOLVED”
Ludwig von Mises