Coming Rush into Gold-Backed Crypto Currencies with Dwarf the Bitcoin Rush | Tom Cloud

Tom Cloud is a veteran precious metals adviser, serving clients around the world since 1977.  He is the Chairman of the Board of Cloud Resources Group, Inc. and has a long and successful advisory track record in both financial planning and tangible assets.  Tom offers his commentary on the current state of the precious metals markets.

Key Points

• USD will continue to go down.
• Crypto-currencies are high-risk, fiat currency investments.  Tom owns a little crypto-currency but only because of the high potential upside they possess.
• Tom has seen silver go to $50/oz in 1980 and almost $50/oz in 2011 but he says, “this time it [the price per ounce of silver] is going to be much more.”
• Tom believes that soon (1Q 2018) there will be a cryto-currency backed by gold (and possibly silver).
• Tom believes the rush to crypto-currencies will be dwarfed by the coming rush to gold-backed crypo-currencies.
• As money moves out the banking system, the current banking system will crash.