Saturday, July 9, 2011

Dines - Now Predicts Silver to Reach $300 - $500 an Ounce

With gold and silver on the move along with stocks, today King World News interviewed legendary James Dines, author of The Dines Letter. When asked where he sees things today Dines stated, “The central investing fact in the world today is the coming end of the age of debt. The US government is now borrowing $40 out of every $100 it spends. China is lending the $40 to America perhaps and then with the income from interest, plus the junk they sell to Walmart they buy land in America with it.
The other side says if there is no agreement (on the debt ceiling) by Congress, the US will actually run out of money to pay its bills including paying interest on its debt worldwide. The mainstream press has reported all of the gory details of that really doomsday possibility, which is a straight lie. The government can pay the interest and its military first and let other stuff wait.”

Dines continues:

“Another crucial fact is governmental unlimited paper printing mania, unlimited because there’s been no link to gold which otherwise would have restricted it when the gold ran out, which is why the world’s debts have risen out of control. In fact the whole world to me is on the verge of a final scramble to lock up hard assets as part of a flight out of paper money.
China gets it by buying vast tracts of farmland in Africa, even America’s midwest, not to be resold at a profit but to be held forever by China’s government. Now under everybody’s very eyes the system of capitalism is being transfigured into a monopoly game, out of paper into things. So that’s logically where to invest for the future.”

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