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a few days ago stock market investors finally took notice of the carnage that was going on in the bond market the back up in interest rates and the effect it was happening on key interest sensitive sectors of our economy like the housing industry and the automobile industry and all of a sudden the stock market started to tank and we've had some very big drops in the stock market and now finally today gold traders notice what was going on in both the stock market and the bond market and maybe the implications for the economy and gold rose about $30 an ounce now we're back above twelve hundred and twenty dollars an ounce everybody is complacent nobody thinks there's anything to worry about they're confident that this is just a correction in a bull market and that we have a strong economy nothing could be further from the truth the economy is even a bigger bubble than the stock market you know Donald Trump was interviewed today and one of the things that he claimed is that the US economy was on the verge of collapse when he was elected and because he was elected he was able to solve the problems and create a strong economy well he's half right it was on the verge of collapse when he became president but now it's on the verge of a bigger collapse because the only thing Donald Trump has done since being elected president is to blow more air into the bubble so we're still gonna have the crash that he was talking about only now it's gonna happen from a higher level and it's gonna be that much more spectacular this is going to be a sequel to 2008 and like all sequels it's going to be bad this one is going to have an even worse ending than the last one because it's not going to end with a dollar rally and a sell-off in gold it's going to end with the opposite Gold is going to take off and the dollar is going to collapse and the inflationary recession that is going to follow the bursting of this bubble is going to be far more disruptive and painful for the average American but it's gonna be far more profitable for people who own gold and who buy more gold now if you recall what happened in 2008 when the financial crisis hit the price of gold fell but that's because it was at a venn all-time record high of 1000 in the summer of 2008 people have been buying gold for years the rally began in 2001 from below 300 and by the time the financial crisis happened everybody had lots of profits in gold and nobody was short fast forward to 2018 nobody's been buying gold Gold's about 40 percent below its 1900 peak a set in 2011 in fact gold traders hedge funds are short gold for the first time since 2001 when the price of gold was below $300 an ounce so when this crisis hits nobody is sitting on big profits in gold people are short bold they need to cover and gold is under owned also the dollar in 2008 that summer before the financial crisis the dollar index was at 70 it was at an all-time record low everybody was short the dollar fast forward to today it's the opposite everybody is long the dollar the speculative trade is that the dollar is going to go up you know back in 2008 one of the reasons the dollar had been so weak was because we had large budget deficits and large trade deficits and people were smart enough to realize that was a problem well today we have even bigger budget deficits and even bigger trade deficits and nobody thinks it's a problem at all in fact they think it's good for the dollar they think the trade war is good for the dollar nothing could be further from the truth the dollar is going to collapse when this crisis ensues in fact it's actually going to be a dollar crisis not just a financial crisis a dollar crisis it's not just going to be mortgages that are in trouble but US Treasuries so this sale that we've been having in gold has been going on for years and you know what it's about to end so if you've been thinking about buying more gold or bi and more silver stop thinking and start buying if you don't own any gold or silver what are you waiting for you gotta buy it because the prices are gonna start to go up a lot faster and once it really goes it's gonna leave a lot of people behind so this is the time I think to load the boat with gold if you already own it buy more if you don't own it you know get a big position because this is the beginning of the next leg of the bull market I think we're gonna take out that 2011 hi and we're going much much higher 5 $10,000 somewhere in there and maybe even higher depending if we end up with hyperinflation it's too soon to tell how the Fed is gonna react but we're going back into recession the Fed is gonna take race back to zero they're gonna do QE 4 it's not gonna work it's gonna blow up the dollar is going to go down inflation CPI prices are going up long-term interest rates will go up and the Fed is going to have a choice it's either going to have to save the dollar and allow a much worse financial crisis than 2008 or it's gonna try to prevent that financial crisis and it's gonna sacrifice the dollar and then we could have something far worse we could have hyperinflation but before that happens this is your opportunity while everybody is still complacent where people are still willing to sell their gold buy it from them and one word of warning to all of you out there who are holding Bitcoin or other crypto currencies who think you're in a safe haven who think you own digital gold you don't you own fool's gold today while the price of gold was up 3% Bitcoin was down 5% I mean at least so far who knows where it'll be by the time you watch this video but today should show that Bitcoin unlike gold is not a safe haven it's not a store of value it is a speculative asset that is dropping just like a tech stock so if you own Bitcoin or any cryptocurrency and you're under the delusion that it's a safe haven then you need to sell I mean if you want to buy it as a speculative asset fine that's what it is I think it's a bad bet I think you're gonna lose but if you don't think it's a speculative asset you're wrong and if you want to buy something that is a true safe haven buy gold you know in fact a lot of people look at the chart of Bitcoin and they say oh there's a lot of support at around 6,000 if you look at the lows or just beneath but a chart that nobody is looking at is the chart of Bitcoin priced in gold and if you look at that chart it looks a lot more ominous for Bitcoin in fact Bitcoin has not been holding lows it's been trending down and in fact today it broke down below a key line and now I think we're gonna have a much bigger drop in the price of Bitcoin measured in gold based on where the price of gold is today it would put Bitcoin down around 5,000 but of course if gold goes up then that number would be higher for Bitcoin but if we get below that level that's the last level then I think it's going to be a crash then I think there can be an implosion in Bitcoin and all the crypto currencies so before that happens you want to sell your Bitcoin or any other crypto currencies and buy gold you know what shift gold we were one of the first companies to allow people to use bitpay to convert their bitcoins into dollars to buy gold that doesn't mean we accept bitcoins for gold but it does mean we make it very easy for you if you have Bitcoin to get rid of your Bitcoin and turn it into real gold and you know if you bought Bitcoin years ago and you know you have a big profit bring the cash register take your profits you got lucky and get out before you lose your profits if you were unfortunate enough to get suckered into the mania near the top and you bought $10,000 $20,000 Bitcoin don't hold on and hope you get your money back because you're gonna go down with the ship the best way you're gonna get your money back is to take your losses in Bitcoin and buy some gold or better yet buy some silver you'll be able to make up your Lawsons and then some by doing that trade and if you don't want to have physical gold and silver in your possession which you would buy from us at Schiff gold if you just want to have it digitally if you want your gold to be on an app on your cell phone then get an account at Gold money but you're actually buying real goal that's stored in your name at a vault owned by Brinks but now you have gold that you can transfer just like crypto currencies you could send your goal to any other gold money account holder anywhere in the world instantly for nothing you can get a free debit card so for some reason you need to spend your gold or silver you can use your debit card to do that and more importantly it is very easy to open up a gold money account and fund it with Bitcoin and then you can get out of fool's gold and get into real gold or silver before the bottom drops out of the crypto market and gold and silver blow through the roof
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