The one chance that you have to survive what is coming is to have wealth that knows no borders, is recognized globally and cannot default. It is wise to own this in as many forms and fashions as possible with as few intermediaries between you and your wealth as possible. Don’t trade it, don’t use margin…just OWN IT!
Submitted By Bill Holter, Miles Franklin Ltd,:
We have watched for months while the COMEX prices of Gold and Silver were capped. We watched a circus of paper selling 2 weeks ago crash the “prices” and we watched again Wednesday. Gold was “down” $25 and Silver over $1. This in the face of massive physical demand which has at least doubled globally and up 3 or 4 fold depending upon the area of the world you are looking at. Premiums for “in hand” delivered metal have exploded and in the case of Silver you still are paying close to $30 an ounce to get it. This represents a roughly 30% premium currently. This “discrepancy” between the price that they “say it is” versus what you need to pay to actually get physical in your hand metal may even increase (it apparently will). As the discrepancy remains and were it to widen, inventories of physical metals will be drawn down further, faster and at some point no longer exist. I wrote about this phenomenon 2 weeks ago during the paper smash. I said that the COMEX could default within a week or several weeks. Were paper “buyers” (even less than10% of them) to stand for delivery, the inventories would be wiped clean.