Turning Hard Times Into Good Times

We are now in the sixth major credit contraction of the last 300 years. The first four were U.K. centric. That last complete deflationary cycle during the 1930s was U.S. centric as is the current cycle. In each of these major credit contractions, price deflation followed the contraction of money and credit. Will it do so again? But, with central bankers no longer encumbered by a restrictive gold standard, can enough money be printed fast enough to outrun a massive deflationary depression this time? Can the current debt deflation be inflated away? We’ll ask market analyst and financial historian Bob Hoye those questions as well as what the gold/silver ratio might be telling us in that regard. What about gold and the dollar? Is the dollar destined to lose all its value as gold rises to infinity? Or, might the dollar as the senior currency become “strong” again as happened in prior cycles? What matters to gold mining investors? The nominal or real price of gold?