Lynette Zang: Crisis Ahead in 2024? Look to Gold, Silver, Community
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"When you have a debt-based system and walls of debt that need to be reset, and you've got interest rates up substantially from where they were when this debt was taken out ... what you've got is a tectonic shift," said Lynette Zang of ITM Trading.
Lynette Zang of ITM Trading sees a crisis potentially developing by spring or summer of this year.
"When you have a debt-based system and walls of debt that need to be reset, and you've got interest rates up substantially from where they were when this debt was taken out — which was in zero interest rate policy — what you've got is a tectonic shift," she told the Investing News Network at the Vancouver Resource Investment Conference (VRIC).
Speaking about how to prepare, she emphasized the importance of holding physical gold and silver, but also stressed that community connections will be key in the turbulent times that lie ahead.
"What you can know with absolute certainty is that good money — so physical gold, physical silver in your possession — is the single safest thing that you can do to protect yourself from all of those issues, plus so many more," Zang said.
Pointing to Costco's (NASDAQ:COST) foray into gold sales, she said she already sees interest in precious metals building.
"As far as gold and silver are concerned, when I see the public buying the 1 ounce little bars from Costco as quickly as they can list them on the website, that gives me a lot of hope and is an indication that people are waking up," she noted.
In terms of community, Zang said it's important to build connections at both locally and globally. Looking at the former, that could mean getting to know nearby farmers, while the latter might entail joining forces to oppose central banks.
"Coming together in a global community to buy gold and silver and say, 'Nope, we are not accepting your fiat money, and we are certainly not accepting your full control and full surveillance money' — that's what we can do," she said.
Watch the interview above for more from Zang on her outlook for 2024. You can also click here for the Investing News Network's full Vancouver Resource Investment Conference playlist on YouTube.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
