The main reason to buy gold and silver any time is as insurance against extreme negative events. The main reason for buying gold in 2016 remains the risk of an international monetary system collapse. Gold is money in extremis.

This year's World economic Forum proposes adding a new word to the English language motivated by a recognition that the word ‘debt’, as defined by Merriam Webster, implies something that is owed and will be paid back and that his definition is becoming a very Inconvenient Truth for the world’s bankers and politicians. It has been proposed that the word “debt” be replaced with the word “agfok”, an acronym for “A Gift For Our Kids”.

The following article outlines 4 factors which I believe will drive gold prices starting this year and beyond.

The following comments may not be what one wants to hear, but charts tell what the reality is behind any market, and we are just the messenger delivering the chart-driven message so let's take a look at the most recent charts for gold and silver are conveying.

Given that this imminent recession will begin with the stock market flirting with all-time highs, the next stock market crash should be closer to the 2001 and 2008 debacles that saw the major averages cut in half.

The uptake & dollar value of Bitcoin has grown rapidly over the past 3 months - almost doubling its value. For 33 indicators that prove the only way is up for Bitcoin, check out our infographic below.

Silver looks like it has bottomed and will move substantially higher. Here's why.

Because we know the trend is down, there is no guesswork about trading from the long side in paper gold. There is no need to “predict” the price direction. Just wait for more information that buyers are beginning to increase (which they are not, so far), and then have a strategy for buying in a changing up trend. Presently, there is no evidence of a change to an up trend, so wait for confirmation and keep one’s powder dry.

Many widely held beliefs about gold are lies – propaganda hammered home to have us believe the only true measure of wealth is government-issued debt. It’s hard to say which of the 7 lies about gold is the biggest whopper. You be the judge. Read on.

Sadly, the fiscal and monetary conditions for global economic chaos have now been set in stone. It’s only a matter of time and, unfortunately, that time is short.