Precious Metals

The U.S. Dollar Is Being Systematically Destroyed, And We Are On A Path That Inevitably Leads To Hyperinflation

If we keep treating the U.S. dollar like it is toilet paper, it is just a matter of time before our entire financial system goes down the tubes.  At this moment, the dollar is still the primary reserve currency of the world, and the fact that we control it is an absolutely massive advantage for us.  Because the rest of the globe uses dollars to trade with one another, that creates a tremendous amount of artificial demand for our currency, and it keeps the value of our currency elevated at a level that it much higher than it otherwise would be.  But now that we are starting to act like the Weimar Republic in their heyday, it is only going to be a matter of time before everyone else on the planet starts abandoning the U.S. dollar in droves.  We are literally killing our “golden goose”, and most Americans do not even understand what is happening.

The remarks that John Williams made about hyperinflation during a recent interview with Greg Hunter have created quite an uproar, but the truth is that Williams is right on target.

We are on the exact same path that Zimbabwe, Venezuela and so many others have already gone down, and the very foolish decisions that we have been making are only going to end in complete and utter disaster.

To illustrate what I am talking about, I would like to direct your attention to what has happened to M2 during this calendar year.  For those that are not familiar with M2, here is a definition that comes from Investopedia…

M2 is a calculation of the money supply that includes all elements of M1 as well as “near money.” M1 includes cash and checking deposits, while near money refers to savings deposits, money market securities, mutual funds, and other time deposits. These assets are less liquid than M1 and not as suitable as exchange mediums, but they can be quickly converted into cash or checking deposits.

As you can see on this chart, the M2 curve has been rising at an exponential pace in 2020.  In fact, since the pandemic started the curve has nearly gone vertical…

If we keep doing this, we won’t be facing a major financial disaster years from now.

Rather, it will just be a matter of months before the wheels start coming off.

But our leaders do not have any intention of changing course now.  During 2020 the Federal Reserve has been pumping money into the financial system at a rate that we have never seen before, and they have indicated that they plan to continue to support the financial markets as we head into 2021.

And Chicago Federal Reserve Bank President Charles Evans just said that he expects that interest rates could continue to be pushed all the way to the floor “perhaps into 2024”…

Chicago Federal Reserve Bank President Charles Evans said Monday there is still “quite a long ways to go” for the U.S. recovery from the coronavirus crisis, adding that he expects the Fed to keep interest rates at their current near-zero level until perhaps into 2024.

Of course the federal government is going to continue to pump out “stimulus package” after “stimulus package” no matter who is in the White House.  This is a point that John Williams made very strongly during his interview with Greg Hunter…

Because they has been so much damage done to the economy, Williams says there will have to be stimulus no matter who eventually makes it into the White House.  Williams contends, “Let’s say Trump gets re-elected.  He’s not going to have any choice but to increase stimulus to try to help the economy and help people.  If Biden takes over, he’s going to have to do the same.  He is already promising massive stimulus.  Where it gets really scary is if the Democrats can take control of the House, the Senate as well as the White House. . . . The stimulus there is going to be unbelievable. . . . The more radical Democrats will just print the money you need and spend whatever you need to spend it on, and don’t worry about it. . . . Whoever gets into power, there is going to be more deficit spending.  It’s just a matter of how radical it will be. . . . There is no way we are escaping massive stimulus for at least the next year and into 2022.”

Virtually everyone likes getting “free money” from the government, but you have probably noticed that the price of just about everything has been going up lately.

And this is just the beginning.  According to Williams, we are literally on the verge of a “hyperinflationary Great Depression”…

Williams expects to see some very large inflation because of all the stimulus coming and predicts, “The more left we go, the more rapid will be the demise of the dollar.  Eventually, it will be a hyperinflation in the United States.  What I am looking at here is this evolving into a hyperinflationary Great Depression.  To save yourself, you have to preserve your wealth, your dollar assets.  To do that, you have to convert your dollars into physical gold and silver, precious metals and just hold them.  They will retain value over time as opposed to paper dollars that will effectively become worthless.  You’ll be getting a lot of money from the government, and they will keep giving you more and more and more, but that’s going to be an environment of rising and rising inflation.  It’s not necessarily going to buy you more. . . . Hyperinflation will bring political disruption. . . . Hyperinflation is a form of default.  Gold is telling us hyperinflation is straight ahead of us.”

Needless to say, what Williams is saying is perfectly consistent with the warnings in my new book.

To protect themselves, a lot of investors have been pouring money into gold, silver and other precious metals.

At the start of this year, the price of gold was sitting at $1,520.55.  As I write this article, the price of gold is at $1824.00.

And actually the rise in the price of silver has been even more dramatic over the course of 2020.

Gold and silver will almost certainly keep rising as the value of the dollar continues to be destroyed, but even those that invest in precious metals are not going to win in the end.

Because the truth is that the complete collapse of our financial system is not going to benefit any of us, and there is going to be no way to avoid such a fate if we keep going down this very dangerous path.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The End, Get Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on Facebook, Twitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

The Dow Falls Another 138 Points As Geopolitical Shaking Forces Investors To Race For The Exits

Stock prices just keep on falling, and many analysts are now wondering if a full-blown stock market crash is in our near future.  On Thursday, the S&P 500 and the Dow both closed at 2 month lows after Donald Trump dropped “the mother of all bombs” in Afghanistan.  It was the first time that one of these bombs has ever been used in live combat, and it is being reported that each of these bombs weighs 22,000 pounds and costs 16 million dollars to make.  Of course Trump was trying to send a very clear message to the rest of the world by dropping this bomb, and investors interpreted it as a sign that we are getting even closer to war.

The financial markets will be closed on Friday for the long holiday weekend, and with so much uncertainty about what may happen in Syria and in North Korea, many investors wanted to get their money out of the market while they still could.  The historic losing streak for S&P 500 tech stocks extended to 10 days in a row on Thursday, and all of the major stock indexes are now below their 50 day moving averages for the first time since the election.

And the VIX closed above 16 to close the week, which many analysts saw as a sign that more market volatility is on the way…

The fear index on Thursday hit 16.22, its highest since Nov. 10, after closing above its 200-day moving average on Monday for the first time since Nov. 8.

“The VIX confirmed a breakout above its 200-day moving average [Tuesday], supporting a pickup in volatility in the days ahead,” BTIG’s chief technical strategist, Katie Stockton, said in a Wednesday note.

On Tuesday, I wrote about how geopolitical instability is causing many investors to seek out safe havens such as gold and silver, and that trend continued on Thursday.  As I write this, the price of gold is sitting at $1289.20, and the price of silver is up to $18.50.  Of course if the French election goes badly for the globalists or we see a full-blown shooting war erupt in either Syria or North Korea, those prices will go far, far higher.

For quite a while I have been very strongly warning that these ridiculously inflated stock prices were not sustainable.  It was inevitable that they would start to decline, because the underlying economic numbers simply did not support them.

And just today we got some more bad news.  According to Zero Hedge, the mortgage business at one of America’s biggest banks has been absolutely crashing…

When we reported Wells Fargo’s Q4 earnings back in January, we drew readers’ attention to one specific line of business, the one we dubbed the bank’s “bread and butter“, namely mortgage lending, and which as we then reported was “the biggest alarm” because “as a result of rising rates, Wells’ residential mortgage applications and pipelines both tumbled, specifically in Q4 Wells’ mortgage applications plunged by $25bn from the prior quarter to $75bn, while the mortgage origination pipeline plunged by nearly half to just $30 billion, and just shy of all time lows recorded in late 2013 and 2014.”

Fast forward one quarter when what was already a troubling situation, just got as bad as it has been since the financial crisis for America’s largest mortgage lender, because buried deep in its presentation accompanying otherwise unremarkable Q1 results (EPS small beat, revenue small miss), Wells just reported that its ‘bread and butter’ is virtually gone, and in Q1 the amount of all-important Mortgage Applications has tumbled by a whopping 23% to just $59 billion, below the lows hit in early 2014, and at fresh lows since the financial crisis.

Unfortunately, what is going on at Wells Fargo is just part of an enormous “loan collapse” that we are witnessing all over the nation.

This is exactly what we would expect to see if a new recession was beginning.  When economic conditions show down, banks and other lending institutions begin to get tighter with their money, and a tightening of credit causes economic activity to slow down even further.

It can be exceedingly difficult to break out of such a cycle once it starts.

But the mainstream media doesn’t seem to understand these things.  Instead, they are pointing the blame at other sources for the emerging economic slowdown.  For example, consider the following excerpt from a CNN article entitled “Americans have become lazy and it’s hurting the economy”…

Americans have become lazy, argues economist Tyler Cowen.

They don’t start businesses as much as they once did. They don’t move as often as they used to. And they live in neighborhoods that are about as segregated as they were in the 1960s.

All of this is causing the U.S. to stagnate economically and politically, Cowen says in his new book: “The Complacent Class: The Self-Defeating Quest for the American Dream.” Growth is far slower than it was in the 1960s, 70s and 80s and productivity growth is way down, despite everyone claiming they are working so hard.

No, our economic problems are not the result of Americans being too lazy.

Rather, the truth is that we have accumulated way too much debt as a society, we have been way too greedy, and there has been way too much manipulation by the Federal Reserve and other central banks.

For decades we have been living way above our means.  We have been able to do this by stealing trillions upon trillions of dollars from future generations of Americans, and now a day of reckoning is rapidly approaching.

Unfortunately for Donald Trump, he just happens to be the president at this moment in history, and so much of the blame for what is about to happen will be pinned on him.  The following comes from a recent interview with Peter Schiff…

Trump doesn’t want to preside over a major decline in our standard of living, but ultimately that has to happen. Because this is the consequence of all this excess consumption that went on before he was president. You know, we sacrificed our future to indulge our past. The future is now the present. We’re here, and it’s time to pay the piper.

Schiff is precisely correct.

For decades we have just kept sacrificing the future in order to inflate our current standard of living.

But the funny thing about the future is that it always arrives at some point, and now we are going to pay an enormously high price for being so exceedingly reckless all these years.

The Price Of Gold Spikes As Investors Get Spooked By Talk Of World War III And Nuclear Conflict

Whenever the world starts going crazy, investors instinctively begin flocking to precious metals.  So it wasn’t exactly a surprise when gold and silver prices started to move upward aggressively as global leaders continued to talk about the possibility of World War III and nuclear conflict.  The price of gold spiked to a five month high on Tuesday, and as I write this article gold is currently sitting at $1277.10 an ounce.  Right now silver is at $18.35 an ounce, and many analysts believe that it is poised for a dramatic jump in the weeks and months to come as global tensions continue to rise.  Google searches for the phrase “going to war” are the highest that they have been at any point in recent years, and many people out there are starting to understand that the U.S. could soon be facing military conflicts in Syria and in North Korea simultaneously.

In response to persistent threats from the Trump administration, the North Koreans are promising that they will not hesitate to use nuclear weapons if they are attacked by the U.S. military.

In particular, an article that was just published in North Korea’s official state newspaper says that U.S bases “in South Korea and the Pacific operation theater but also in the U.S. mainland“ would be targeted.

Most analysts do not believe that North Korea has any missiles that can reach the U.S. mainland, so that is probably an empty threat, but they can definitely hit Seoul, Tokyo and all U.S. military bases in South Korea and Japan.

And even if the U.S. was able to locate and take out all North Korean nukes in an overwhelming first strike, the North Koreans would still have thousands of artillery guns and rockets aimed at Seoul.  Military analysts in the western world have estimated that North Korea could fire off up to half a million rounds within one hour of being attacked, and the devastation that such a barrage would cause in Seoul would be beyond anything that we have ever seen in the modern world.

Personally, I have come to the conclusion that it is going to be nearly impossible to conduct a conventional military assault on North Korea that does not result in an absolutely catastrophic death toll.

Unfortunately, Donald Trump appears determined to do something anyway.  A couple of days ago we learned that he “has ordered his military advisers to be ready with a list of options to smash North Korea’s nuclear threat”, and on Tuesday he told the world that the U.S would “solve the problem” whether China helps or not…

Trump, who has urged China to do more to rein in its impoverished ally and neighbor, said in a tweet that North Korea was “looking for trouble” and the United States would “solve the problem” with or without Beijing’s help.

Just like he did with Syria, Trump’s words have now committed us to taking military action in North Korea.

Let us hope that any military action is delayed for as long as possible, but it is definitely alarming that Trump boasted to the Fox Business Network about the “very powerful” naval armada that is sailing toward North Korea right now…

“We are sending an armada. Very powerful,” Trump told Fox Business Network. “We have submarines. Very powerful. Far more powerful than the aircraft carrier. That I can tell you.”

Meanwhile, it is being reported that the Chinese have deployed 150,000 troops to their border with North Korea as they continue to warn both sides against taking military action.

Over in the Middle East, things continue to get even more tense as well.

Russia and Iran have pledged to “respond with force” to any additional U.S. attacks, but the Trump administration is not showing any signs of backing down.  In fact, White House press secretary Sean Spicer has substantially lowered the threshold for more military conflict by suggesting that the use of “barrel bombs” may be enough to justify another attack.  Considering the fact that everyone in the Syrian civil war has been regularly using barrel bombs for many years and that approximately 13,000 were used in 2016 alone, it is very alarming for Spicer to say such a thing.

On Tuesday, Trump told the American people that “we’re not going into Syria”, but what happens if he orders another missile strike and the Russians and Iranians respond by shooting down some U.S. aircraft or by sinking an entire aircraft carrier?

I can guarantee you that members of Congress from both parties will be absolutely screaming for war if CNN starts endlessly playing footage of a U.S. aircraft carrier sinking after it has been struck by the Russians or by the Iranians.

We are so close to World War III erupting in the Middle East, and there was no need for the U.S. to get involved in the first place.  According to former CIA officer Philip Giraldi, evidence continues to mount that Assad had absolutely nothing to do with the chemical attack that Trump got so upset about…

Philip Giraldi, former CIA officer and director of the Council for the National Interest, stated on the Scott Horton show that “military and intelligence personnel” in the Middle East, who are “intimately familiar” with the intelligence, call the allegation that Assad or Russia carried out the attack a “sham.”

Giraldi said the intelligence confirms the Russian account, “which is that they [attacking aircraft] hit a warehouse where al-Qaeda rebels were storing chemicals of their own and it basically caused an explosion that resulted in the casualties.” Moreover, Giraldi noted, “Assad had no motive for doing this.”

Investors that can see the writing on the wall are already getting out of stocks and into precious metals while there is still time to do so.

Because if we get into a direct military conflict with Russia and Iran in Syria, global financial markets will crash and gold and silver will soar into the stratosphere.

And of course a similar scenario would play out if we attack North Korea and the North Koreans respond by firing off nuclear or chemical warheads at targets in South Korea and Japan.

I did not expect that we would be on the verge of World War III less than three months into the Trump administration, but here we are.

These are perilous times, and those that are wise are moving their money and are making key preparations before things spiral completely out of control.

The Price Of Silver Explodes Past 20 Dollars An Ounce As The European Banking Crisis Deepens

Silver Coins 2 - Public DomainHave you seen what the price of silver has been doing?  On Monday, it exploded past 20 dollars an ounce, and as I write this article it is sitting at $20.48.  Earlier today it actually surged above 21 dollars an ounce for a short time before moving back just a bit.  In late March, I told my readers that silver was “ridiculously undervalued” when it was sitting at $15.81 an ounce, and that call has turned out to be quite prescient.  The Friday before last, silver started the day at $17.25 an ounce, and it is up more than 18 percent since that time.  Overall, silver is up more than 30 percent for the year, and that makes it one of the best performing investments of 2016.  So what is causing this sudden surge in the price of silver?  This is something that we will discuss below…

This sudden spike in the price of silver has definitely caught a lot of analysts off guard.  Some are suggesting that the fact that the Fed is now less likely to raise rates after the Brexit and the fact that the dollar has been slipping a bit lately are the primary reasons for silver’s rise…

This isn’t a gradual increase either. It’s an explosive growth spurt. Just three months ago silver had reached an 11 month high. Now silver prices have reached a 23 month high. Several factors appear to be influencing these gains, including a weakening dollar, and the fact that the Fed may cut interest rates in light of the Brexit vote.

Personally, I don’t buy those explanations.

To me, the continuing implosion of major banks over in Europe is the main factor that is driving investors to safe haven assets such as silver.

Rumors continue to spread that Deutsche Bank is essentially insolvent at this point, and many are watching for the imminent collapse of the largest and most important bank in Germany.  When this happens, it will be a much, much more cataclysmic event for the global financial system than the collapse of Lehman Brothers was back in 2008.

But today I want to focus on the ongoing implosion of the major banks in Italy.

Italy has the 8th largest economy on the entire planet, and their banks are drowning in approximately 400 billion dollars worth of non-performing debt.

The Italian government would like to bail these banks out, but the rest of the EU appears ready to block that effort because it would violate EU rules.  As a result, the big Italian banks experienced a bloodbath on Monday…

Italy’s Banca Monte dei Paschi di Siena SpA BMPS, -13.99% closed down 14%. The move came after a report that the European Central Bank is pushing the lender to draft a new plan aimed at reducing non-performing loans.

Other Italian bank shares were lower, with Banca Popolare dell’Emilia Romagna BPE, -6.73% down 6.7%, Intesa Sanpaolo SpA ISP, -3.04% off 3% and Banca Popolare di Milano SpA PMI, -1.40% lower by 1.4%.

And these stunning declines come on the heels of last week’s nightmare…

As a reminder, the Euro Stoxx Banks index was down -0.88% last week and is nearly 19% down from its pre-referendum levels. Italian Banks are at the heart of that weakness with the likes of Unicredit, Intesa, Banco Monte dei Paschi and UBI down -9.78%, -3.44%, -15.79% and -6.11% respectively last week, in the process sending Italian stocks to levels not seen since Draghi’s famous “whatever it takes” speech.

So what happens when all of the major banks of a country collapse at the exact same time?

Basically, Italy is facing “financial Armageddon” if nothing is done, and so some Italian politicians are desperate to step in and do something about this crisis even if it means defying the EU…

The Financial Times reported Sunday that Italy was prepared “to defy the EU and unilaterally pump billions of euros into its troubled banking system if it comes under severe systemic distress … despite warnings from Brussels and Berlin over the need to respect rules that make creditors rather than taxpayers fund bank rescues.”

Citing “several officials and bankers familiar with the plans,” the FT said that the threat has raised alarm along Europe’s regulators “who fear such a brazen intervention would devastate the credibility of the union’s newly implemented banking rule book during its first real test.”

But of course the rest of the EU is not about to let this happen because it would be a gross violation of European Union rules…

Michael Hewson, chief market analyst at CMC Markets UK, said: “Under current EU state aid rules any attempts to help banks must involve a bail-in process that doesn’t involve using taxpayer’s money.

“Italian Prime Minister Matteo Renzi has tried to argue that the Brexit uncertainty has destabilised Italy’s already fragile banks.

“The reality is the problems of Italy’s banks predate last week’s Brexit vote, and he knows it.”

So what is going to happen?

Could Italy be forced to leave the EU?

Will the rest of the European Union eventually cave in and save Italy?

We all remember how difficult it was for the EU to save Greece, and they are just the 44th largest economy on the planet.

So where in the world are they going to come up with the resources to rescue the 8th largest economy on the planet?

Immediately following the Brexit vote on the Friday before last, we witnessed the biggest one day global stock market loss in world history.  But since that time many global markets have bounced back, and a lot of people seem convinced that the crisis has passed.

Unfortunately, the truth is that the crisis is just getting started.  As I warned before the Brexit vote, European banks were going to continue to implode no matter what the result was, and that is definitely what we are seeing come to pass right now.

Without bailouts, virtually all of the major banks in Italy are going to fail.  It is just a matter of time.  And each of those failures would send financial shockwaves all over the planet.

Personally, I am convinced that the second half of 2016 is going to be even more eventful that the first half of 2016, and this new global economic crisis is going to continue to accelerate.

Unfortunately, most Americans are preoccupied reading about Taylor Swift’s new boyfriend and things of that nature, and so they are totally oblivious to the global events that are about to turn their lives totally upside down.

20 Reasons Why All The People That Quit Prepping After September Are Dead Wrong

Wrong Way - Public DomainMillions of Americans were gearing up for some huge event to happen in September, but the world didn’t end and now many of them have given up entirely on prepping.  Of course the truth is that some absolutely earth-shattering events did take place last month, but because September did not play out exactly as some were anticipating, a lot of people feel very let down.  My contacts in the emergency food industry tell me that sales have dropped off dramatically, and yesterday I was told by someone that I trust that the same is true for those that sell precious metals.  But this should not be happening.  What we witnessed in August and September was just the warm up act, and all of the numbers are absolutely screaming at us that we are right on track for a major global crisis.  In this article I am going to focus on economic and financial issues, but there are so many other things going on around the planet right now that threaten to throw our world into turmoil.  Anyone that thinks that it is safe to “relax” now is simply not paying attention.  The following are 20 reasons why all the people that quit prepping after September are dead wrong…

#1 U.S. exports are down 11 percent for the year so far.  The only other times they have fallen this dramatically since the turn of the century were during the last two recessions.

#2 Since March, the amount of stuff being shipped by truck, rail and air inside the United States has been falling every single month on a year over year basis.  This is a clear indication that economic activity is really slowing down.

#3 Wholesale sales in the U.S. have fallen to the lowest level since the last recession.

#4 The inventory to sales ratio has risen to the highest level since the last recession.  This means that there is a whole lot of unsold inventory that is just sitting around out there and not selling.

#5 Industrial production declined for five months in a row during the first half of 2015.  That is something that has never happened outside of a recession.

#6 Wal-Mart is projecting that its earnings may fall by as much as 12 percent during the next fiscal year.

#7 Don’t expect U.S. consumers to rush in and save the day.  According to brand new numbers from the Social Security Administration, 51 percent of all American workers make less than $30,000 a year.

#8 And remember, there are 102.6 million working age Americans that do not even have a job of any kind.

#9 According to Challenger Gray, layoffs at major firms have risen to the highest level that we have witnessed since 2009.

#10 The number of job openings in the United States declined by 5.3 percent during the month of August.  That was a huge plunge for just one month.

#11 According to British banking giant HSBC, the world is already in a “dollar recession“.  Global trade has fallen 8.4 percent so far this year, and global GDP expressed in U.S. dollars is down 3.4 percent.

#12 In September, Chinese exports were down 3.7 percent compared to one year ago, and Chinese imports were down a staggering 20.4 percent compared to a year ago.

#13 During the month of August, we witnessed the 8th largest single day stock market crash in U.S. history on a point basis and the 10th largest single day stock market crash in U.S. history on a point basis.  It was the first time ever that the Dow Jones Industrial Average declined by more than 500 points on two consecutive trading days.

#14 On August 24th, we also witnessed the greatest intraday stock market point swing of all time.  From the high point of the day to the low point of the day, the Dow Jones Industrial Average plummeted 1,089 points before recovering.

#15 At one point in September, approximately 11 trillion dollars of stock market wealth had been wiped out around the globe.

#16 At one point in September, Chinese stocks were down about 40 percent from the peak of the market.

#17 At one point in September, German stocks were down about 25 percent from the peak of the market.

#18 Since the last financial crisis, the global economy has added another 50 trillion dollars to our colossal pile of debt.  That means we are far more vulnerable to a crisis than we were the last time around.

#19 The list of global financial giants that are rumored to be in very serious trouble includes Deutsche Bank (the biggest bank in Germany), UBS (the biggest bank in Switzerland) and three of the largest commodity trading firms on the entire planet: Glencore, Trafigura and the Noble Group.  The total collapse of any one of them would easily be another “Lehman Brothers moment” for the global financial system.

#20 Stocks are still in a massive bubble.  In fact, stocks in the U.S. are going to have to fall more than 30 percent from the current levels just to get back to what is considered “normal” or “average”.  The following is an extended excerpt from one of my previous articles…

*****

In recent years, stocks have soared to unbelievably unrealistic levels.  One of the most popular methods of measuring the true value of stocks is something called the cyclically-adjusted price to earnings ratio.  It was developed by economist Robert Shiller of Yale University, and it attempts to accurately show how much we are paying for stocks in relation to how much those corporations are actually earning.  When this number is very high, stocks are overvalued, and when this number is very low stocks are undervalued.

Earlier this year, CAPE hit a peak of about 27, and by the beginning of August it was still sitting up around 26.  The only times CAPE has been higher have been just before other stock market bubbles have burst…

CAPE - from Wikipedia

It would take a total drop of about 40 percent from the peak of the market just to get back to average.  So far the Dow has fallen about 10 percent or so, so it is going to take another 30 percent crash just to get to a point where stock prices are considered “normal” once again.

*****

In this day and age, we are so impatient and our attention spans are pitifully small.  We live in a world of instant coffee, video on demand, and 48 hour news cycles.  Very few of us are willing to take a long term view of things because we have all become accustomed to “living in the now” and focusing on what is in front of us this very instant.

Yes, the headlines are not screaming about a “stock market crash” or an “economic depression” on this particular day in October.

But that doesn’t mean that we are out of the woods by any stretch of the imagination.

The biggest bank in the western world (HSBC) says that a global recession has now begun, and the pain that we have experienced so far is just the tip of the iceberg.

So please don’t think that it is time to relax.

The month of September was not “the end” of anything.

Rather, it was just the beginning…

The Dow And S&P 500 Soar To Irrational Heights – Meanwhile The Ultra-Wealthy Rush To Buy Gold Bars

Gold Bars - Public DomainDid you know that the number of gold bars being purchased by ultra-wealthy individuals has increased by 243 percent so far this year?  If stocks are just going to keep soaring, why are they doing this?  On Thursday, the Dow Jones industrial average and the S&P 500 both closed at record highs once again.  It is a party that never seems to end, and there are a lot of really happy people on Wall Street these days.  But those that are discerning realize that we witnessed the exact same kind of bubble behavior during the dotcom boom and during the run up to the last financial crash in 2007.  The irrational exuberance that we are witnessing right now cannot go on forever.  And the bigger that this bubble gets, the more painful that it is going to be when it finally bursts.  Those that get out at the peaks of the market are the ones that usually end up making lots of money.  Those that ride stocks all the way up and all the way down are the ones that usually end up getting totally wiped out.

To get an idea of how irrational the markets have become, all one has to do is to look at Twitter.

Would you value “a horribly mismanaged company” that is less than 10 years old and that has never made a yearly profit at 31 billion dollars?

Well, that is precisely how much the financial markets say that Twitter is worth at this moment.

Even though Twitter will probably never be much more popular than it is right now, it continues to bleed money profusely.  On a GAAP (generally accepted accounting principles) basis, Twitter lost an astounding 145 million dollars during the second quarter of 2014…

Twitter’s GAAP net loss totaled $145 million, up from $42 million a year ago. On a GAAP basis, Twitter lost $0.24 per share. Investors, however, were not expecting Twitter to be profitable by GAAP measurements, so the loss isn’t too much of a drag.

Why would anyone want to invest in such a money pit?

Here are some more disturbing financial numbers about Twitter from David Stockman…

Currently, Twitter (TWTR) is valued at $31 billion.That’s 18X revenue, but the catch is that the revenue in question is it’s lifetime bookings over the 18 quarters since Q1 2010.

When it comes to profits, the numbers are not nearly so promising!  For the LTM period ending in June, TWTR booked $974 million of revenue and $1.7 billion of operating expense. That why “NM” shows up in its LTM ratio of enterprise value to EBITDA. It turns out that its EBITDA was -$704 million. In fact, its R&D expense alone was 83% of revenues.

Of course the truth is that Twitter should be able to make money.

And it probably would be making money if it was being managed better.

The following is what Silicon Valley venture capitalist Peter Thiel said about Twitter on CNBC the other day…

“It’s a horribly mismanaged company — probably a lot of pot-smoking going on there.”

But because Twitter is a “hot tech stock” investors are literally throwing money at it.

And there are many other tech companies that have similar stories.  Off the top of my head, Snapchat, LinkedIn, Yelp and Pinterest come to mind.

Fueled by the quantitative easing policies of the Federal Reserve, U.S. stocks have enjoyed an unprecedented joy ride.

However, as David Stockman recently told Yahoo Finance, the subsequent crash is likely to be enormously painful…

“I think what the Fed is doing is so unprecedented, what is happening in the markets is so unnatural,” he said. “This is dangerous, combustible stuff, and I don’t know when the explosion occurs – when the collapse suddenly is upon us – but when it happens, people will be happy that they got out of the way if they did.”

The behavior that we are observing in the stock market simply does not reflect what is happening in the economy overall whatsoever.

In many ways, U.S. economic fundamentals just continue to get even worse.  Small business ownership in the United States is at an all-time low, the labor force participation rate is the lowest that it has been in 36 years, and the U.S. national debt has grown by more than a trillion dollars over the past 12 months.

But on Wall Street right now, there is very little fear that the party is going to end any time soon.

The following is how Seth Klarman recently described the market complacency that he is seeing at the moment…

To put it a bit differently, writer and investor John Mauldin is right when he says that there is “a bubble in complacency.” Fear has effectively been banished. The members of the Fed know it. Stock traders who chase the market to new highs almost daily know it. Implied volatilities (and realized volatilities) are historically low (the VIX Index recently hit a seven-year low), and falling. The Bank for International Settlements recently cautioned that financial markets are euphoric and in the grip of an aggressive search for yield. The S&P has gone over 1,000 days without a 10% decline, according to Birinyi Associates. Dutch and French 10-year government bond yields are at 500 and 250 year lows, respectively; Spain, 225 years. Spanish debt yields were recently inside of U.S. levels.

But as Klarman also observed, just because “investors have been seduced into feeling good” does not mean that this current bubble is any different from what we witnessed back in 2007…

It’s not hard to reach the conclusion that so many investors feel good not because things are good but because investors have been seduced into feeling good—otherwise known as “the wealth effect.” We really are far along in re-creating the markets of 2007, which felt great but were deeply unstable when shocks started to pile up. Even Janet Yellen sees “pockets of increasing risk-taking” in the markets, yet she has made clear that she won’t raise rates to fight incipient bubbles. For all of our sakes, we really wish she would.

Meanwhile, the ultra-wealthy are making moves to protect themselves from the inevitable chaos that is coming.

For example, the Telegraph recently reported that sales of gold bars to wealthy customers are up 243 percent so far in 2014…

The super-rich are looking to protect their wealth through buying record numbers of “Italian job” style gold bars, according to bullion experts.

The number of 12.5kg gold bars being bought by wealthy customers has increased 243 percent so far this year, when compared to the same period last year, said Rob Halliday-Stein founder of BullionByPost.

“These gold bars are usually stored in the vaults of central banks and are the same ones you see in the film ‘The Italian Job’,” added David Cousins, bullion executive from London based ATS Bullion.

Do they know something that we don’t?

The ultra-wealthy are able to stay ultra-wealthy for a reason.

They are usually a step or two ahead of most of the rest of us.

And any rational person should be able to see that this financial bubble is going to end very, very badly.

Are We On The Verge Of Witnessing The Death Of The Paper Gold Scam?

Gold BarsThe legal claims on physical gold far exceed the amount of physical gold that the banks actually have by a very, very wide margin.  And right now the bankers are scared out of their wits because their warehouses are being drained of physical gold at a frightening rate.  So what happens when their physical gold is gone but they still have lots and lots of people with legal claims to gold?  When that moment arrives, it will represent the end of the paper gold scam.  Many believe that the recent takedown of the price of paper gold was a desperate attempt by the bankers to put off that day of reckoning, but it appears to have greatly backfired on them.  Instead of cooling off demand for precious metals, it has unleashed a massive “gold rush” all over the globe.  Meanwhile, word has been spreading among wealthy families in both North America and Europe that they had better grab their physical gold out of the banks while they still can.  This is creating havoc in the financial community, and at least one major international bank has already declared that it will only be settling those accounts in cash from now on.  The paper gold scam is starting to unravel, and by the time this is all over it is going to be a complete and total nightmare for global financial markets.

For years it has been widely known that the promises that banks have made regarding their gold far exceed their actual ability to deliver, but we have never reached a moment of such crisis before.

Posted below are quotes from people that know precious metals far better than I do.  What these experts are saying is more than a little bit disturbing…

–CME President Terry Duffy: What’s interesting about gold, when we had that big break two weeks ago we saw all the gold stocks trade down significantly, we saw all the gold products trade down significantly, but one thing that did not trade down, was gold coins, tangible real gold. That’s going to show you, people don’t want certificates, they don’t want anything else. They want the real product.

–Billionaire Eric Sprott: So we see all of these paper (trading) volumes going through that bear absolutely no relationship to what’s going on in the physical markets. As you know I have always been a proponent of the fact that supply in the gold market was way less than demand, and by a very large factor. I think demand exceeds supply by at least 60%. The central banks are surreptitiously supplying that gold, and ultimately they will be running on fumes.

When we hear about the LBMA not willing to deliver gold, and JP Morgan’s inventories at the COMEX have gone from 2.4 million (ounces) down to 160,000 ounces, it just makes you realize that all of this paper trading means nothing. It’s the real physical market that you have to rely on.

–JS Kim: FACT #1: COMEX gold vaults were recently drained of 2 million ounces of physical gold in one quarter, the largest withdrawal of physical gold bullion from COMEX vaults in one quarter during this entire 12-year gold and silver bull. There has been speculation about the reasons that spurred these massive withdrawals of gold from COMEX vaults, but the most reasonable speculation is that no one trusts the bankers to hold on to their physical gold anymore, especially in light of Fact #2. Note below, that both registered AND eligible stocks of gold had heavily declined in recent months. Such an event signals a general distrust of the banking system from everyone holding gold in registered COMEX vaults.

FACT #2: One of the largest European banks, ABN Amro, defaulted on their gold contracts and informed their clients that they would only settle their gold bullion contracts in cash and not in physical. So much for the supposed legality of financial contracts as a “binding” contract. So whether Fact #1 caused Fact #2 or vice versa is irrelevant. What IS apparent is that the level of trust in bankers to safekeep physical gold and physical silver is disappearing, as it should be, and as it should have already been for years now. But truth always takes some time to catch up to banker spread lies and that is what is happening now. I have been warning people never to trust bankers in deals involving gold and silver for years now, as in this article I wrote nearly four years ago informing the public that the SLV and GLD are likely a banker invented scam as well.

FACT #3: Silver fraud whistleblower and London trader Andrew Maguire stated that the LBMA was having trouble settling gold contracts in bullion as well and stated that institutions that asked for physical settlement “were told they would be cash settled instead by a bullion bank.” In plain English, this is a default. So Andrew Maguire reported that the LBMA had already gone into default. In light of Fact #1 and Fact #2, the dominoes were starting to tumble and the house of cards that the bankers had built in gold and silver paper derivatives to deceive and hide the true fundamentals of the physical gold and physical markets from the entire world was rapidly starting to crumble. A financial earthquake of magnitude 2.5 was quickly threatening to evolve into one of the biggest financial earthquakes of all time in which the world’s confidence in all global fiat currencies would effectively have a well-deserved funeral.

–Jim Sinclair: I think the reality is the supply situation is extremely volatile at this point, and even discussing it is like rubbing a raw nerve to the people who are in charge. The amount of discussion on the subject of warehouse supply, supply that is represented by the gold leases, indicated to the central planners that the demand for physical was going to continue to effect the exchanges.

Although they did not expect any grandstand delivery, the mere continued draining of physical inventories was threatening the very functioning of the paper exchange. That threatening of the paper exchange and its ability to continue functioning is really taking off the blinders and revealing the truth behind the critical question, ‘Where is the gold?’

The question now is, ‘Where has the gold gone?’ Who has all of this gold? Because of the nature of gold leasing, all of this gold has been purchased and it has gone somewhere. The reality of the empty vaults reveal that the gold has gone missing.

–Ronald Stoeferle: We’re seeing this rush to physical gold not only in the retail market, but also for the institutional players…[it’s] just overwhelming…I [estimate] a 130-to-1 [ratio of paper to physical gold]…and I think in the last week we were really close to [triggering] a default of the paper market.

–Gerhard Schubert, head of Precious Metals at Emirates NBD: I have not seen in my 35 years in precious metals such a determined and strong global physical demand for gold. The UAE physical markets have been cleared out by buyers from all walks of life. The premiums, which have been asked for and which have been paid have been the cornerstone of the gold price recovery. It is very rare that physical markets can have a serious impact on market prices, which are normally driven solely by derivatives and futures contracts…

I did speak during the week with several refineries in the world, of course including the UAE refineries, and the waiting period for 995 kilo bars is easily 2-3 weeks and goes into June in some cases. A large portion of the 995 kilo bars in the UAE goes normally into the Indian market, but a lot of the available 995 kilo bars are destined for Turkey, at this time. We heard that premiums paid in Turkey have reached anything between US $ 20 and US $ 35 per ounce.

–James Turk: Another indication of the demand for large bars is the huge drawdown in the gold stock in COMEX warehouses. It is noteworthy that COMEX reports show the drawdown is largely the result of dealers removing their inventory, their working stock. When that happens, you know the availability of supply is constrained.

What all of this means, Eric, is one thing. If the central planners want to keep the precious metals at these low prices, to meet the demand for physical metal they will need to empty more metal from central bank vaults, or borrow metal from the ETFs as some have suggested is happening. Otherwise, the central planners will have to step back and stop their intervention, thereby letting the price of gold and silver rise so that demand tapers off, bringing demand and supply of physical metal back toward some kind of balance.

We’ve seen this same situation several times over the last twelve years. It is what I have been calling a “managed retreat.” Despite the current weakness, I firmly believe we have again entered a critical period where the central planners will need to retreat once again in order to let the gold and silver prices climb higher.

–The Golden Truth: And then I get a call from a close friend in NYC last Friday.   His career has been in private wealth management in the private bank department of the Too Big To Fail banks.  He’s been looking for work and chats with old colleagues all the time.  He called my Friday and told me he just got off the phone with a very high level private banker from a big Euro-based TBTF bullion bank, but who was at JP Morgan until about six months ago.

This guy told my friend that there is a scramble by many very wealthy European families/entities to get their 400 oz bars out of the big bank vaults. He knows this personally, for a fact.  He said the private banker community is small over there and the big wealthy families all talk to each other and act on the same rumors/sentiment.  The Bundesbank/Fed and the ABN/Amro situations triggered this move.  He knows for a fact JPM tried to calm fears about 3 months ago by sending a letter to it’s very wealthy clients assuring them their bars were safe, in allocated accounts.  He said right now those same families are walking into the big banks like JPM and demanding delivery of their bars or threatening to take their $100’s of millions in investment portfolios to competitors.  His wording was “these people are putting a gun to the heads of private banks and demanding their gold.”

I know this information is good because I know my friend’s background and when he tells me his source is plugged in, the guy is plugged in. Not only that, my friend’s source said that there’s no doubt that someone like a John Paulson, not necessarily specifically him, but entities like him or it may include him, have held a gun to GLD and demanded delivery of physical in exchange for their shares.

Regarding the Bundesbank/Fed situation, recall that the Bundesbank asked to have some portion of its gold sitting – supposedly – in the NY Fed vault in NYC sent back Germany. The total amount is 1800 tonnes.  After behind the scenes negotiations, the Fed agreed to ship 300 tonnes back over seven years.  To this day, the time required for that shipment has never been explained.  Venezuela demanded the return of its 200 tonnes held in London, NYC and Switzerland and received it all within about four months.

And regarding the ABN/Amro situation.  ABN/Amro offered a gold investment account product that offered physical delivery of the gold in the investment account when the investor cashes out.  About a week before the gold price smash, ABN sent a letter to its clients informing that the physical delivery of the bullion was no longer available and that all accounts would be settled with cash at redemption.

I believe it was these two events that triggered the big scramble for physical gold by wealthy families/entities who were suspicious of the integrity of their bank vault custodial arrangement anyway.

*****

So what does all of this mean?

It means that we are entering a period when there will be unprecedented volatility for precious metals.  There will be tremendous ups and downs as this crisis plays out and the bankers try to keep the paper gold scam from completely unraveling.

Meanwhile, nations such as China continue to stockpile gold as if the end of the world was coming.

According to Zero Hedge, Chinese gold imports set a brand new all-time record high in March…

Quite the contrary: as export data released by the Hong Kong Census and Statistics Department overnight showed, Chinese gold imports in March exploded to an all time record high of 223.5 tons.

And the number for April is expected to be even higher.

Does China know something that the rest of us do not?

We are also seeing a rapid decoupling between spot prices and physical prices.  In fact, it is quickly getting to the point where the spot price of gold and the spot price of silver are becoming irrelevant.

For example, demand for silver coins has become so intense that some dealers are charging premiums of up to 30 percent over spot price for silver eagles.

That would have been regarded as insane a few years ago, but people are now willing to pay these kinds of premiums.  People are recognizing the importance of actually having physical gold and silver in their possession and they are willing to pay a significant premium in order to get it.

We are moving into uncharted territory.  The paper gold scam is rapidly coming to an end.  In the long-term, this will greatly benefit those that are holding significant amounts of physical gold and silver.

The Beginning Of The End by Michael Snyder

10 Signs The Takedown Of Paper Gold Has Unleashed An Unprecedented Global Run On Physical Gold And Silver

A Global Run On Physical Gold And Silver Has BegunThe crash of the price of paper gold on Monday has unleashed an unprecedented global frenzy to buy physical gold and silver.  All over the planet, people are recognizing that this is a unique opportunity to be able to acquire large amounts of gold and silver at a bargain price.  So precious metals dealers now find themselves being overwhelmed with orders in the United States, in Canada, in Europe and over in Asia.  Will this massive run on physical gold and silver soon lead to widespread shortages of those metals?  Instead of frightening people away from gold and silver, the takedown of paper gold seems to have had just the opposite effect.  People just can’t seem to get enough physical gold and silver right now.  Those that wish that they had gotten into gold when it was less than $1400 an ounce are able to do so now, and it is absolutely insane that silver is sitting at about $23 an ounce.  If the big banks continue to play games with the price of gold, we are going to see existing supplies of physical gold and silver dry up very quickly.  And once reports of physical shortages of gold and silver become widespread, it is going to absolutely rock the financial world.  But this is what happens when you manipulate free markets – it often has unintended consequences far beyond anything that you ever imagined.

The following are 10 signs that the takedown of paper gold has unleashed an unprecedented global run on physical gold and silver…

#1 According to Zero Hedge, the U.S. Mint set a new all-time record for the number of gold ounces sold on Wednesday…

According to today’s data from the US Mint, a record 63,500 ounces, or a whopping 2 tons, of gold were reported sold on April 17th alone, bringing the total sales for the month to a whopping 147,000 ounces or more than the previous two months combined with just half of the month gone.

#2 Precious metals dealers all over the United States are having a really hard time keeping up with demand right now.  According to Chris Martenson, many are warning customers to expect waiting times of five to six weeks at this point…

In the U.S., all of the dealers I talk to are reporting huge demand and brisk buying. Silver in any form is quite hard to come by unless you want to pay premiums of 20%+ per ounce above spot price. Delivery times are 5 to 6 weeks out now – that’s an unusual situation.  If this recent slam was designed to scare people away from gold, it did not have that desired outcome; in fact, just the opposite.

#3 Individual dealers all over the country are confirming that we are seeing a voracious appetite for precious metals at the moment.  For example, the following is what a spokesperson for JM Bullion had to say…

We still have certain things in stock, like 10 oz bars, while others, like Silver Eagles, are a bit of revolving inventory.

The shipments are going out as soon as inventory comes in.

Our main challenge right now is actually getting the silver into the boxes and shipped out – we have been experiencing astounding volume.

This appears to be a widespread phenomenon.  Just check out what other dealers are reporting…

“There has been a marked increase in demand since the plunge,” said Mark O’Byrne, executive director at Dublin-based investment and bullion specialist GoldCore, referring to the drop in gold prices seen Friday and Monday. Gold futures lost more than $200 an ounce, or over 13%, on those two days. They were at $1,392 an ounce, moving higher ahead of the close on Thursday.

GoldCore has seen more buying than selling on Wednesday and Thursday, with buy orders “lumpier and from high net worth clients, and with most of the selling in small orders of less than 50 ounces, said O’Byrne.

On Wednesday, David Beahm, executive vice president at Blanchard & Co., said his precious-metals investment firm has seen “2008-like demand” for gold since Monday.

#4 Large international banks are also experiencing tremendous demand for physical gold and silver by customers right now.  The following is what Keith Barron told King World News about what he is hearing…

At the Bank of Nova Scotia in Toronto the gold window has been absolutely swamped. I have confirmed there were people lined up in droves recently for multiple-hours at a time to buy gold and silver bars and coins….

I then confirmed with UBS today in Zurich, Switzerland, that they are experiencing exactly the same thing. They told me people are waiting in long lines for bullion related bars and coins. The physical market is incredibly tight, and there is a huge buying opportunity right here.

The damage in gold will not be long-term because physical supply is already drying up. Asian countries have been aggressively buying gold. This really is an unprecedented opportunity for investors. This takedown in the metals has created incredible demand for both gold and silver, and anyone who wants to unload dollars or euros and put them into gold because they don’t trust the currency, now is the time to do it.

#5 The demand for physical gold and silver is heating up over in Europe as well.  For example, the following is from an emergency message posted on the website of a precious metals dealer in the UK…

Due to the unprecedented demand triggered by the recent fall in the Gold Price we are currently not able to guarantee Next Day Delivery of orders.

We anticipate that all orders will be delivered within 7 days of receipt by us.

Whilst we appreciate that these delays are frustrating for our customers we would like to stress that all accepted orders are guaranteed at the order price and will be dispatched as soon as possible.

It is necessary for all of our staff to be utilised in fulfilling orders and we ask for your cooperation by not calling us to query delivery times. If you do need to contact us, please do so by e-mail and we will endeavour to respond within 48hrs.

#6 On the other side of the globe, demand for precious metals is skyrocketing as well.  According to Bloomberg, people are “running through the gate” to get gold in Australia…

Gold sales from Australia’s Perth Mint, which refines nearly all of the nation’s bullion, surged after prices plunged, adding to signs that the metal’s slump to a two-year low is spurring increased demand.

“The volume of business that we’re putting through is way in excess of double what we did last week,” Treasurer Nigel Moffatt said by phone, without giving precise figures. “There’s been people running through the gate.”

#7 Reuters is reporting that customers are waiting for up to three hours to buy gold in Japan…

A week ago, as the yen-denominated price neared a new peak, jewelry stores and gold merchants across Japan saw long lines of mostly older Japanese looking to cash in on unwanted jewelry and other items that they had held for years.

But on Tuesday, buyers outnumbered sellers by a wide margin. At Ginza Tanaka, the headquarters shop of Tanaka Holdings, gold buyers waited for as long as three hours for a chance to complete a transaction.

#8 According to a Chinese article quoted by the Blaze, there is a mad rush to buy gold in China right now…

People have to rush to buy gold … gold bullion out of stock yesterday, investors yesterday to spend as much as 600 million yuan to buy 20 kilograms of gold bars

The mad pursuit gold insufficiency is not just a game for the rich. Yesterday, the Yangcheng Evening News reporter learned from the East flowers to Bay store, many growers, pork traffickers, fishmonger recently put down his job went straight to the mall to buy gold.

#9 According to Reuters, dealers in Singapore are having significant trouble finding enough of a supply to keep up with the intense demand for gold that has erupted this week…

“People are actually buying everything, gold bars, gold coins. People are rushing to get a hand on it. We have a problem meeting the demand because we are unable to get new supply,” said Brian Lan, managing director of GoldSilver Central Pte Ltd in Singapore.

#10 Bloomberg is reporting that over in India people are “flocking to stores” to purchase gold jewelry and coins…

Gold buyers in India, the world’s biggest consumer, are flocking to stores to buy jewelry and coins, betting a selloff that plunged bullion to a two-year low may be overdone.

“My daughter is just six months old, but I think it is never too early to buy gold,” said Sharmila Shirodkar, a 28- year-old housewife, while displaying a new pair of earrings she bought from a store in Mumbai’s Zaveri Bazaar. “I had been asking my husband every day if prices will go down more. I couldn’t wait anymore.”

If the big banks were trying to scare people away from gold and silver by crashing paper prices for those metals then they have utterly failed.

Instead of being frightened away, the global appetite for physical gold and silver is now more voracious than ever.

If the prices for gold and silver stay this low, we are eventually going to start seeing some very serious shortages in the marketplace.

And once reports of shortages of the actual physical metals become widely circulated, it will cause an “adjustment” in the marketplace that will shock everyone.

So hold on to your hats.  We are entering a period of time when there will be unprecedented volatility for the prices of precious metals.  It will be quite a roller coaster ride, but if you can handle the ups and downs it will be worth it in the end.

They Have Unleashed A Frenzy To Get Gold And Silver

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