GoldMoney Chairman James Turk outlines the reasons
As posted at www.GoldMoney.com on 12/11/12
James
Turk outlines the stark fiscal facts about government debt problems
across the developed world, and why central banks' determination to
devalue the currencies they issue is causing a bull market in precious
metals. He demonstrates why gold remains undervalued, despite the great
gains seen in its price over the last 11 years, and a means of
assessing whether or not the yellow metal is fairly valued or not.
James
argues that we are living in "fiat currency bubble", similar though
many magnitudes greater than the recent housing bubbles seen in
America, Ireland, Spain and other countries, or the "Tech bubble" in
NASDAQ stocks in the late 1990s. The USA is racing towards
hyperinflation, courtesy of the Federal Reserve's monetization of US
government deficits.
James Turk
has specialized in international banking, finance and investments
since graduating in 1969 from George Washington University with a B.A.
degree in International Economics. His business career began at Chase
Manhattan Bank (now JPMorgan Chase & Co.), which included
assignments in Thailand, the Philippines and Hong Kong. He subsequently
joined the investment and trading company of a prominent precious
metals trader based in Greenwich, Connecticut. He moved to the United
Arab Emirates in December 1983 to be appointed Manager of the Commodity
Department of the Abu Dhabi Investment Authority, a position he held
until resigning in 1987. Thereafter he held various advisory roles in
money management until founding GoldMoney, which was launched in 2001.
He is a director of the GoldMoney Foundation.
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