“How did you go bankrupt?” Bill asked. “Two ways,” Mike said. “Gradually and then suddenly.”
“What brought it on?” “Friends,” said Mike. “I had a lot of friends. False friends. Then I had creditors, too. Probably had more creditors than anybody in England.”
– The Sun Also Rises, Ernest Hemingway
Gold and silver – physical gold and silver in your own possession – is real money and wealth protection. The U.S. is moving into the policy implementation of Modern Monetary Theory. Note “Theory.” The “theory” in a nutshell justifies unlimited currency creation to fund Government spending.
Michelle Holiday invited me onto her Portfolio Wealth Global podcast to discuss the factors leading up to a systemic reset and why precious metals will at least preserve your relative wealth position going into the inevitable systemic reset: