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Interesting article from Reuters regarding the international flows of silver. Note how 83% of their stack is committed to ETFs. Be careful with paper bullion.
The London bullion exchange was on the verge of defaulting. The central banking systems came to the rescue. The system is so rigged and the world has pulled the curtain aside and have decided they don't like what they see. The system is fighting back. It will delay the inevitable but that's all. The debasement trade isn't going away. Never has. Never will. When we went off the gold std internationally in '71, much of the rest of the world did too. Gov'ts promise and spend more than they have so this way they can debase the currency and keep the leaking tire inflated for longer. We're at $39T plus unfunded liabilities of well over $100T. Gov't takes in about $5T a year. Good luck. Now, the only constraint in the world has gone TrumpCrazy.
Comments
Thanks / Dan
The London bullion exchange was on the verge of defaulting. The central banking systems came to the rescue. The system is so rigged and the world has pulled the curtain aside and have decided they don't like what they see. The system is fighting back. It will delay the inevitable but that's all. The debasement trade isn't going away. Never has. Never will. When we went off the gold std internationally in '71, much of the rest of the world did too. Gov'ts promise and spend more than they have so this way they can debase the currency and keep the leaking tire inflated for longer. We're at $39T plus unfunded liabilities of well over $100T. Gov't takes in about $5T a year. Good luck. Now, the only constraint in the world has gone TrumpCrazy.
Cover your asses folks,
and so it goes,
peace,
rono
OJ