Dollar Collapse Is Inevitable, So Buy Gold

Last month, Kitco News interviewed renowned New York Times Bestselling author Robert Ringer. They began by discussing the current political direction of America, but moved on to the collapse of the dollar. While Ringer will not put a timeline on the collapse of America’s currency, he is certain that it will fall apart.

What will that collapse look like? Again, Ringer wouldn’t say, but he does have just one piece of advice for everyone: buy gold. Buy physical gold. In fact, he is even more aggressive in his allocation than our Chairman Peter Schiff. Ringer believes 50% of your portfolio should be in gold!

A few highlights from the interview:

“What needs to change [in America]… You need to change the fundamental mindset of people. You could have the most conservative or libertarian president and congress in the world, but they’re not going to be able to govern in a conservative or libertarian way as long as their constituents want stuff, as John Stossel would say… We’re into generations now that have known nothing else but the transfer of wealth as a way of life…

“The [dollar] currency is being destroyed daily, hourly, by the minute – there’s no question about that. But when it will totally collapse, no one knows… Depending on who you’re discussing it with, it’s worth somewhere between 1 percent and 5 percent of what it was a hundred years ago…

“I’ve said for a good thirty-five years… Buy gold. Buy as much as you can possibly buy, because gold is money. Those pieces of paper in your pocket are not money, and you don’t measure the price of gold by dollars. You measure the value of dollars by gold. Gold doesn’t change its value… When it goes up, it reflects how much less the dollar is worth…

“There’s so many factors. It’s a huge, worldwide marketplace right now. My advice to people would be, “Buy gold.” I don’t believe 10 percent or 15 percent – I think at least 50 percent of your portfolio should be in gold… Don’t touch it. That is money… I like to own physical everything. I like to know its in my hand.”

Disclosure: None. 

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