by Clive Maund
GoldSeek
We now have a very rare setup for gold which is in position to “go ballistic” as the dollar collapses. The dollar is being intentionally destroyed by the Fed which is creating dollars in vast unprecedented quantities in order to buy up distressed assets on the cheap and in order to pave the way for the new “digital dollar”. We are in the last stages of the fiat endgame where money creation goes vertical, quickly leading to it becoming worthless, as happened in Venezuela and Zimbabwe, and of course hyperinflation is a great way to pay off debt, because you can do so with worthless currency.
There are two worries that have been vexing would be investors in the Precious Metals sector in recent weeks. One is that gold and silver won’t rise much because big banks like J P Morgan will cap it by dumping onto the paper market. The other is that Cryptos are “stealing gold’s thunder” and siphoning off funds that would otherwise go into the Precious Metals.