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The Dow Jones Breaks the 20,000 Mark As the National Debt Approaches $20 Trillion


 -- Published: Friday, 27 January 2017 | Print  | Disqus 

By Nathan McDonald

Wednesday saw an historic event take place. The Dow Jones broke through the 20,000 mark for the first time ever. Broadcasters broke out into song and into praise, others hailed it as a great triumph and a sign of great things to come. But is it?


This, in my mind, is not something that should be rejoiced. It is not something to write home about and focus on, for at the core of these markets is a rot that is there for all to see - if you only look hard enough.


Ironically, this "breakthrough" has come just as the US national debt level is set to explode through the 20 trillion dollar mark, a level that is completely and utterly unsustainable and is absolutely mind boggling if you attempt to imagine just how much money that actually is.


The fact is, the markets are incredibly over priced and are due for a major, massive correction. Just like before the 2008 collapse, this is going unseen by those on Wall Street and the talking heads, as they are focused only on the short term and the next quarterly profits.


Yet, we in the precious metals community know better. We know that we should be focused on the long term and the ramifications that such a collapse in the markets could bring. We don't need to look back too far for a reference, as it just seems like yesterday that we were going through the 2008 banking crisis.


Whether or not this crisis is going to be triggered intentionally, or naturally through the markets self-correcting is yet to be seen. Also, it is unknown to all when this great correction is going to begin.


One thing we do know, however, is how to best protect yourself in the event of the coming storm. Precious metals.


Physical, real gold and silver have stood the tests of time, over and over again in these times of crisis, and mark my words, they will do so again.


It is only a matter of time, so taking action and preparing in advance is the prudent thing to do. If you are already prepared, good for you. If not, then you have to ask yourself: "what are you waiting for?".

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Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.

Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.

In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.

He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.


The views and opinions expressed in this material are those of the author as of the publication date, are subject to change and may not necessarily reflect the opinions of Sprott Money Ltd. Sprott Money does not guarantee the accuracy, completeness, timeliness and reliability of the information or any results from its use.

 


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 -- Published: Friday, 27 January 2017 | E-Mail  | Print  | Source: GoldSeek.com

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