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December
09
2014

Silver & Gold At 5000 Year Low
Mike Maloney With Chris Martenson

But you know I'd like to sort of leave people with this: If you really analyze it gold and silver are really at a 5,000 year low. They have been either our money or connected with our currency backing our currencies for 5,000 years and they've — governments have slowly sort of weaned us off gold and silver and for the last 43 years is the first time in all of human history that gold and silver are not either our money or backing our currency. They have no connection with the global monetary system other than people like Ben Bernanke say it's tradition to hold it for some reason central banks are buying it. But at the same time after it went into a tiny little bubble in 1980, the world experienced a brutal bare market that lasted 20 years and by the year 2000 investors gave up on it; so here you don't have any country on the planet wanting it or using it as their money. And no investor wanted it by the year 2000. And at the same time we were in the NASDAQ bubble on such there was no time in human history that paper assets were as over valued and loved as during the tech bubble and the dot com bubble.

And so gold and silver are just — they're still just re-asserting themselves. If you look at gold as a percentage of global financial assets it's still miniscule, it's not even on the radar and when you see a financial commentator say that gold is in a bubble — to be in a bubble people have to own it. And if you talk to your neighbors about gold and silver most people will find that almost nobody actually owns any substantial amount of gold and silver. They don't — the percentage of their portfolio that's in gold and silver is either none or they might have a few trinkets here and there. So the upside I believe is still enormous but it isn't — as time goes on I get more and more worried about our freedom and how disastrous this thing will be when it finally bursts because of the amount of stored energy. And the more they put the inevitable day of reckoning off by currency creation and zero interest rates or negative rates the worse it's going to be…

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