2009-03-13 22:01:00 - Financial Guru explains why Chinese Counterfeiting is a threat to our National Currency and ways to avoid being a victim.

MoneyTeachers.Org's Financial Guru, Paul A Drockton M.A. has a history of "getting it right". Here are a few things he accurately predicted over the past
few years:

1. The collapse of the Nasdaq.
2. The stock market collapse
3. The Subprime Mortgage Collapse
4. Gold going from $300 to $1,000 per ounce. (see: www.youtube.com/watch?v=gvNJn-U7Ey0&feature=channel_page)
5. The collapse of the dollar against the Euro
6. The collapse

of the real-estate market.


Yes, the man is amazingly accurate. Well worth listening to.

When asked about the Chinese Counterfeiting gold coins, Mr. Drockton stated, "Diluting coinage and metal content can be traced back to the Roman Empire. The last emperors were famous for cutting the precious metal content of Roman Currency." He also stated, "In a more sinister vein, counterfeiting is also a tool for undermining a rival nation's economy. Make no mistake, China has viewed the United States as both an economic rival and a political one. Considering that 1 out of five people in this world are Chinese, that makes them a significant threat to our National Interest."

When asked where this rivalry originated, he responded: "Where do you start? The Opium Wars? The Boxer Rebellion? How about our support for Chiang Kai Shek against the Communists? Or, our continuous support for Taiwan? The Viet-Nam and Korean Wars? The West really doesn't understand Chinese culture. The debts that are owed to their ancestors are expected to be paid by current and future generations until satisfied. Its a multi-generational grudge."

"Although we have only had one direct confrontation (in Korea) with the Chinese, there is a high probability that we will face them in the very near future. There is absolutely no doubt that they would take advantage of our economic weakness and unpaid debts."

When it comes to buying gold, He proposed the following: "Hold people accountable for the gold content of your investments by demanding a statement of purity where they guarantee that the bullion or coin is pure in writing or they will buy at back for no less than what you paid for it. It really is that simple. Only buy from reputable dealers and avoid private collections or buyers unless they have a statement from a certified Assayer verifying the gold content. Make sure you contact the individual on the certificate. If he cannot be found demand that the gold be Assayed again for percent and purity."

Money Teacher (www.moneyteachers.org)

Mr. Drockton blogs at moneywisdom-gold.blogspot.com