Precious Metals

"[A day of reckoning] is in the cards for sure. Predicting exactly what it’s going to mean or what it’s going to look like… that’s the big challenge... I think a lot of people are ignoring it... but there are some forward thinkers out there who talk about it. The Chinese want their currency part of a floating currency... I think that’s really going to be the next leg in this whole change… in this reset going forward. It could even happen this year."

- We need a free market in currencies, not bail-ins and a war on cash and gold - People blindly trust “experts” so welcome that some of them giving prudent advice regarding diversification - Currencies of creditor nations – Norway, Switzerland, Singapore, Hong Kong will outperform in long term

Watching as bankrupt (Western) governments pay near-zero or even negative rates of interest on their debts, we see a financial fraud and sham of unparalleled dimensions in the history of our nations. However, when these same regimes inflict these fraudulent interest rates on “savers” (i.e. their own populations), while double-digit inflation rages all around us, this is nothing less than a crime against humanity – with even worse crimes still to come.

There are effectively no tools left for governments and central banks to deal with another major crisis. Like Paris in 1940, they have no Plan B. They’re completely defenseless to support the financial system or the currency in the event of a major shock. We should all take a moment to appreciate this level of incompetence. This doesn’t happen overnight. It takes decades of “blunder and neglect” to engineer financial vulnerability on this scale. But they’ve somehow managed to pull it off.

A fund manager for one of the largest mutual fund and investment groups in the world, Fidelity, has warned investors and savers to have an allocation to “physical cash,” “including  precious metals” to protect against "systemic risk".

“Systemic risk is in the system [and] we are in uncharted territory. Think about holding other assets. That could mean precious metals, it could mean physical currencies.”

More and more insiders are warning of a potential systemic event.

A Greek exit from the euro would change everything. The greatest change being simply doubt and fear regarding the outlook for other vulnerable EU nations, EU banks and the EU banking and financial system. We discuss short and long term considerations, best and case outcomes, and wealth preservation strategies.

European shares remain higher, close to intraday highs, with the autos and travel & leisure sectors outperforming and basic resources, utilities underperforming. Meeting of finance officials to reach a deal over Greek aid ended in frustration, forcing leaders to call for an emergency summit for Monday. ECB plans to hold an emergency session of its Governing Council on Friday to discuss a deterioration in liquidity at Greek banks, three people familiar said. German airwave auction raises $5.7b to top 2010 sale. Bank of Japan leaves monetary policy unchanged as forecast. Shanghai Composite Index capped its worst weekly decline in seven years.

This is the best post-FOMC performance for the precious metals complex since June 2014... with Gold breaking above $1200..

As we reported last year, inflation was raging in food prices. This came at a time, when the FED had the audacity to claim that inflation was "too low".

A rumour has been making its way around the blogosphere suggesting that gold coins are not available for purchase from retail outlets across Europe. This information is misleading and incorrect.

Explosive moves ahead...

“But the truly game-changing aspect of this proposal … lies in the “system” part.  This would be an advanced, state-owned and operated system of electronic payments and settlements, denominated in ounces of precious metals, barred from engaging in lending, leasing, speculative or derivative transactions, and always maintaining a 100% ratio