Ty Andros, of Traderview and Tedbits, joins us for a precious metals crash report. Gold got slammed-down again, so Ty and I discuss the velocity of money, and the rapid rate at which it continues to fall. The central banks are continuing to print money, but they are actively buying in the futures exchanges. The Chinese have made an art of buying pullbacks, and the US is desperate to mask the monetization of debt. The Federal Reserve has been buying 60%to 90% of all the 10 and 30 year variety treasures, and Bernanke is now saying that gold is not money. Don’t be fooled; gold is money! Precious metals have always had and will always have intrinsic value. Hold onto your physical metals because the central banks are trying to buy, buy, buy! YOU should take a page from the Feds book and buy, buy, buy physical holdings of precious metals too!
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