I have been telling readers to put savings into gold and silver for well over 14 years now, and in that time, precious metals have had spectacular rallies as well as intense corrections. Weak hands have been selling and strong hands have been buying and holding for some time now. We have done this with the expectation of something far more than just a parabolic event; some of us have been predicting an economic crisis the likes of which have not been seen in almost a century.
Specifically, in 2018, I warned that there was a dramatic shift in Federal Reserve policy that would puncture the massive debt bubble they had been building since 2008. The crash of the “Everything Bubble” would inevitably lead to a spike in metals prices.
In an article published in January 2018, I warned that the Fed would increase the speed of its balance sheet cuts and interest rate hikes and that this would trigger an initial implosion in the U.S debt bubble and the dollar, along with flirtations with a stock market plunge. By the end of 2018, we saw exactly that.
By mid-2019, the Fed had reversed its fiscal tightening policies, but of course, it was too late; Pandora’s box had already been opened and economic instability was increasing. I continue to believe that this action on the part of the Fed was absolutely deliberate and that they knew they were initiating the beginnings of a crisis. The minutes of the October 2012 Federal Open Market Committee even reveal that Jerome Powell openly discussed what would happen, years before he became the Fed Chair.
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