Precious Metals: The Place to Be

Gold and Silver are the Global Currency

Claudio Grass, managing director of GlobalGold.com joins Bubba today for an awesome discussion on Gold, the FED and all the rest of the nonsense going on globally. Bubba immediately asks Claudio about free markets and price discovery; Claudio states that the central banks around the globe are too big and too powerful and need to be reigned in. The fact that the FED can print money at will is going to cause a greater problem down the road and we will have to pay the piper.

Bubba and Claudio continue their conversation as Claudio explains how fast information moves. Bubba asks Claudio to explain how most people continue to believe in the power structure and even with the information, they do not readily believe. Claudio asserts that change is needed, that people are being led down the path of destruction. Bubba and Claudio agree that the system is broken and that the “too big to fail” has to stop.

Claudio talks about GlobalGold.com and what they do. Claudio explains that they store their gold outside of the banking system, believing that gold and silver are the global currency. Claudio talks about the hyperinflation we have seen along with many other problems that make the metals a place to be. One problem that investors have trouble dealing with is the need for immediate gratification; Claudio warns that gold is a great hard asset, but not as a trade, rather to own. Gold should be a long-term safety play and not bought with money that will be needed tomorrow. 

Last week, Deutsche Bank refused redefinitions on paper gold and Bubba asks Claudio if he is concerned that there is not enough gold to match all of the paper gold that is out there. Claudio is not a fan of the paper gold and is concerned that it may be oversold and not enough to match that amount. Bubba and Claudio discuss the problems created by eliminating true free markets and are concerned that socialism is creeping much closer.