Socialism…A Guaranteed Route to Hyperinflation

The comments above & below is an edited and abridged synopsis of an article by Egon von Greyerz

Gold is hated by governments around the world because it reveals their deceitful actions in totally destroying the economy. It is not an accident that gold is the only money that has survived for 6,000 years. Gold is the only money that tells the truth. And gold is nature’s money, which means it cannot be destroyed and it cannot be manufactured.

This is why governments cannot live with gold as money. Over time governments always spend more than the country earns, and their survival can only be assured by buying votes. Printing money is a cheap way of buying votes; it costs nothing when you own the printing presses or computers. The problem is when that little boy shouts out: “The emperor has no clothes.” At that point, everyone will realize that we live in a world based on lies and debt.

In the next few years, country after country will find a naked emperor and empty coffers. The irresponsibility and incompetence of regimes know no borders. Take a country like Venezuela, which hit the jackpot by sitting on free oil reserves of massive quantities. Venezuela has the biggest oil reserves in the world. But in spite of that, Venezuela is in economic misery.

Von Greyerz discusses how socialism only works with other people’s money; the world will follow Venezuela to hyperinflation; history tells us the future; and 300 million for an ounce of gold.