A Money Changer Interview: Exter

While my understanding has only come in the past several years, and
perhaps yours only recently or not quite yet fully, here is an
interview with Exter, who knew this was coming 40 or 50 years ago.
Quite amazing... But of course that is what you get with a
sheeple-training public education system.

Ignorance will not protect your financial future.

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A Money Changer Interview: Exter

http://the-moneychanger.com/articles_files/mmm_files/economy/exter.phtml

EXTER The most important one is this flight to currency. It is
bigger than anything I expected right now. We are still having
troubles with banks, thrifts, insurance companies, & others, which
will cause more people to move down to Treasury bills & currency. At
some point they will go to gold. We’re at the threshold of that
point. When they go to gold instead of currency or Treasury bills,
the price of gold will take off. It will be a bandwagon everyone will
want to get on. Then even those who have bought currency will see how
foolish they were & that gold is far better to hold than currency,
that it is the best store of value money man has ever found. It’s
stupid for people to hold currency. The Fed can simply print all they
want at very low cost. Paper money is as abundant as leaves on trees.

MONEYCHANGER When that happens, however, it won’t be simply a larger
number of people investing in gold: overnight it will become a buying
panic. All that backs those Federal Reserve notes is confidence.
When that breaks, there’s no safety net at all. The financial system
will just fall 50 stories & hit the pavement.

EXTER That’s right, but most people unfortunately will not recognise
this until they see the price of gold shooting up. Gold has been in
the doldrums for a full decade, & many people have concluded it’s a
bad investment. Those who bought currency instead of gold just did
not understand what they were doing. They knew they wanted to get out
of deposits because they were afraid of the banks & S&Ls. The only
sure refuge they knew was currency. It may be the “coin of the
realm,” but it’s still only paper IOU-nothings.

MONEYCHANGER The instinct is correct, but the means is wrong. The
government & the Fed have intentionally kept Americans ignorant of the
advantages of gold. After 40 years of planned ignorance it’s no
wonder so few understand gold’s value. In effect they are running to
gold, but it’s paper “gold”. It’s the same intent & motive.

EXTER They don’t realise that gold is money, the best store of value
money that man has ever found over thousands of years. Also, gold is
money world-wide; dollars are money only in the United States. So it
is not Americans only who have been stupid: it is people the world
over.

MONEYCHANGER When a number do realise it, we’ll have the problem of
very many people trying to press through a very small door all at
once. That can only happen if gold’s price rises very, very rapidly.

You’re looking for a world-wide depression. That would clear out the
debt bubble that’s built up over the years & liquidate the bad debt.
How long will that last?

EXTER The rest of my life & longer. It’ll be decades. This will be
an economic catastrophe on a scale never before seen in history. We
can see it coming now. Even in the published figures, deposits are
shrinking. Bank & thrift balance sheets are shrinking by much more
than the figures published by the Federal Reserve, because many assets
have not yet been written down & they are getting worse & worse by the
day. We have had more than three decades of heady expansion. We have
now entered a merciless contraction from which gold is by far the best
escape.

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