In an interview with MMnewsTV James Turk, founder of the Gold Money Foundation, says that he believes the gold manipulation is nearing an end which has become apparent as the gold price has been steadily rising.  He also reaffirms his prediction of $8,000 per ounce and recommends that everyone buy some gold.  We believe that the best way to own gold is to buy gold coins minted prior to 1933.

Turk states that gold is the dollar’s only real competitor and that if the price of gold is held down it makes the dollar look stronger.  He claims that the gold price has been held down for a long-time due to this correlation.

“Gold price manipulation is ending now, because they are finally losing control. Some central banks that do not agree with the capping of gold are starting to buy right now. The concerns about the dollar are rising very rapidly and as a natural alternative people are turning to gold because there is no safe currency anymore.”

This has happened before in the 1960’s and 70’s when the gold price was capped at $35 per ounce and shot up to over $800 per ounce in 1980.  Turk believes gold will go to $8,000 per ounce sometime between 2013 and 2015, and that his prediction is based on a simple math equation.  He made this prediction in 2003 when gold was $350 per ounce.  He says that $10 in 2003 could buy what $1 bought in 1971, and if gold can go from $35 per ounce to $800 per ounce in the 70’s then it can go from $350 to $8,000 per ounce on an inflation adjusted basis.

Turk also states that we are in the second phase of the gold bull market and that we can expect to see gold prices rising faster in the next several years.  He states “that right now so few people understand gold, it’s very early in gold’s bull market.  It is not going to be for a long-time that gold becomes the center of attention.  It is going to take a long-time and at a much higher price.”

Turk says that as the gold price rises it awakens in the minds of people that the financial system is weak and triggers higher demand for gold. He also believes that as the demand and price rise that it is possible that gold would be confiscated like it was in 1933.

Turk states, gold is still cheap, it doesn’t have counter party risk and is a good way to protect your wealth.  He believes that the chance of hyperinflation is 100% due to the way that the Fed is printing money.