GOLD, INFLATION & VENEZUELA…Q&A WITH LYNETTE ZANG
Question 1: Venezuela started by printing massive amounts of stimulus and injecting it into the economy. That devalued their currency to the point inflation began and it has not stopped yet. Prices rose to unheard of levels until today their currency in trashed. It now takes over 1 million bolivars to buy a cup of coffee. Are we on the same path?
Question 2: We are very close to retirement. Do you think it may be prudent to pay off all our debt now, rather than risk losing our cash by keeping it in the bank?
Question 3: If we go digital, why would the Fed want to back it with gold? It seems to me that they are trying to get away from Gold all together.
Question 4: Will the US currency ever again be as good as GOLD?
Question 5: When the reset happens, and we have gone digital, what will happen to all the coinage? Will they have to be turned in like the paper? Or will it become the new black-market currency?