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If you have no gold or silver, you will be “Greeced,” “Cyprused,” or otherwise financially screwed for not taking responsibility for your own economic future. Those who already own either or both gold and silver know this although they still foolishly complain about the paper price continuing to decline – and that focus is grossly misplaced. Here’s why.
The edited excerpts above and below are from an article* by Michael Noonan (edgetraderplus.com) originally entitled Gold And Silver – Without Either, You Will Be Greeced which can be read in its entirety HERE.
For those who are myopically focused on the current price for gold and silver, all of the news-related stories about how much gold China owns, how many coins are being bought in record quantities, etc, etc, stories everyone has heard for the past three years, that focus is grossly misplaced.
The price for gold and silver is being artificially and purposefully suppressed by central bankers. The Western world is falling apart at the fiat financial seams, and those in control will resort to whatever means necessary to remain in control, evidenced by the unending proxy wars and Middle East disruptions started by the US. A Third World War cannot be taken out of the equation as the bankers are scrambling for their greedy lives, stealing as much wealth from people as possible.
That is where everyone’s primary concern would be well-served to know and continually be aware of what is going on, because when this banker-created financial disaster comes to it sordid end, and it cannot be avoided, owning and physically holding/controlling gold and silver will be one of the best means of surviving financially.
First Cyprus, now Greece, and it will not stop there. The entire corrupt Western banking system is bankrupt, a fact few people are willing to accept. The entire Western banking system is corrupt. PMs people have a greater appreciation for that repeated statement, but most people simply cannot comprehend the weight of that situation.
Precious metals have always been a store of value and always will be. One of the main reasons for FDR’s Executive Order for US “persons” to turn in their gold was to strip people from being independent of the government. Those who had gold and silver did not need to be reliant upon the government for their economic needs. Take away their most reliable form of wealth, substitute it for fiat paper, and now people had to rely upon the government to survive. To paraphrase Chuck Colson, Nixon’s aide, “When you have them by the financial balls, their hearts and minds will follow.”
How and when things unfold, no one knows. All one can do is to be informed and prepared, and of the two, being prepared is more important than being informed.
Charts
For as long as the corporate federal government can keep its unwanted “dollar” moving higher, it is an apt barometer for the opposite direction of gold and silver. Chart comments pretty much cover the salient features.
U.S. Dollar Index
Gold
Gold continues its decline in a snail-like fashion, despite the obvious intended assaults to drive price lower. Those efforts continue to succeed, but it appears with decreasing effect. (NMT = Needs More Time)
Last week, we commented there was little reason why gold could not go lower, and it did. The same still applies until there is some sign of ending activity.
Silver
An obvious reason why gold may not hold as silver did is seen in how silver is holding in the middle of the down channel, where gold was easily under the middle of its down channel, making gold relatively weaker in character, given the two similarities.
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Conclusion
The trend for both metals remains down, and from the last two lines to Ode On A Grecian Urn:
“Beauty is Truth, truth beauty,—–that is all ye know on earth, and all ye need to know.”
*http://edgetraderplus.com/market-commentaries/gold-and-silver-without-either-you-will-be-greeced
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