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Now Is One of the Best Times in History to Own Gold (Video)

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Jeff Clark of Casey Research spoke with Vanessa Colette at the Vancouver Resource Investment conference hosted by Cambridge House International. Clark explained that gold has been performing exactly as it should in the past year by rising in the price of foreign currencies that have been experiencing inflation and economic trouble. Clark emphasized that there has never been a better time in history to own gold. On top of that, he reminds us that someday the East is going to take charge of the gold trade, and they’ll do that at much higher prices than we’re seeing now.

Highlights from Clark’s interview:

“When you think about it, gold did what it was supposed to do last year [in other countries]. They had currency issues. They had inflation. They had some type of crisis. Some of them are still printing money. Gold did what it was supposed to do. That’s the good news for us as gold investors. It rose in those currencies. Those people were able to protect their purchasing power in their assets and avoid crisis, simply because they owned gold…

“Because gold did what it was supposed to do, for us in North America, if we do get inflation, if we do get a crisis, if the central bankers are forced to go back and print more money… if all that money that has been printed enters the economy and we get inflation, gold is going to respond. That’s the message. Gold did what it’s supposed to do. It will do it here as well. I think there’s a high likelihood that’s coming at some point down the road. I personally think that inflation in inevitable. If I’m right, gold is going to rise. We are going hold our purchasing power and literally protect ourself against crisis, simply because we own gold…

“If gold stocks start to outperform gold – and also, if silver outperforms gold – those are very good indications. On a short-term (not a daily basis), you want to see weekly closes and monthly closes to signify a shift or change in trend. When you start to see that, then I think we can start to get a little excited that a new bull market is born. It’s under way and we can get excited about that… As of right now, that’s what’s happening…

“The bottom line is, gold is an insurance hedge. That’s how you should view it. The gold stocks are more of a speculation. That’s where we’ll make our ‘big money’… But gold has to be viewed as an insurance hedge first. You want to make sure that you own enough so that you’re protected against whatever crisis comes. It may not be inflation first; we may get deflation first…

“[An overnight repricing of gold in response to inflation] is probably the number one reason you want to hold gold right now. If there was ever a period in history to be holding gold, this would be it. The setup is actually perfect for gold. We don’t know the timing… But the circumstances are definitely bullish and giving a strong indication that you need to own a sufficient or a meaningful amount of gold right now…

“For example, in the ruble last year, the gold price went up 73% in rubles last year. Inflation was 11%. The ruble fell 46%… So it actually outperformed inflation. It outperformed the fall in the currency. So, again, the message is that is the response we can expect here in North America whenever we see the next crisis…

“We could ask them, but I think it’s pretty obvious [why China is buying gold]. They’ve been through crises before. They have inflation. They’ve had crisis. They’ve had currency issues. They’ve had central bank intervention, similar to what we have had. But there’s a lot of reasons why they might want to own gold, and they don’t have as much gold as the United States that we know of, so they need to accumulate more. They don’t like what’s happening to the dollar. So there’s lots of reasons why they may be accumulating. But I think the message with China right now is that we don’t have to worry about the gold price, because China’s got our back. They’re buying a lot of gold. We know that. They just opened up Shanghai and Beijing to accept gold imports. Switzerland is exporting tremendous amounts of gold. The UK has been exporting so much, their vaults are greatly diminished according to analysts there… [China is] letting gold miners import gold now. They’re letting banks [import gold]… They’re even going to allow coin manufacturers import gold. So, it’s going to make it harder for us to track and really know what they have… It’s going to make a difference in the price. There really is a shift from West to East, and it’s going to make a difference… At some point, we won’t control the gold market. They will. And it will be done at much higher prices…”

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