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Ironman : ARE YOU PAYING ATTENTION?
I don't post often. I much prefer to let those in charge simply do their job and watch as things unfold.
I am not a fear-monger or a doom sayer, I just watch the big picture, parts of which just became a bit more uncertain in ways that will cause some of us to rethink our post RV plans.
So you are expecting to have a nice big fat bank account after your currency exchange and were counting on the Dodd-Frank legislation to insure it? Well, as you know, we've been waiting so long that that not only has that expired, but governments are now outright stealing your money - directly from your bank accounts.
You have heard of what transpired in Cyprus in the past few days right? After all, you ARE paying attention to more than just the IQD.....
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The legal precedent set by this bailout and the subsequent raid on depositors accounts does not bode well for any nation if the IMF can be used as the lever to pry into your privacy and simply 'take' your money.
Some experts say that this is not a done deal yet until the Cypriot Parliment ratifies it, but the good people of that nation certainly fear it is a reality and are trying desperately to get their money out.
Another brick through the rose colored picture window you've been staring out of is who many of the large depositors have been/are in Cyprus; ex KGB and Russian mafia. Cyprus has long been a laundering center for eastern European drug money and a front for weapons trafficking
So when eighty+ percent of the large depositors are the kind of people you just-don't-steal-from, and the government goes in and helps themselves to nearly ten percent of EVERYTHING, what might be the outcome?
Cash laying around is not being used wisely, and most investors know the trick is to maintain a proximity to liquidity and still make a profit without putting your cashflow at risk or tying it up for to long a period.
So if governments are helping themselves to the cash in your bank account where is the nearest safe haven? Precious metals, which have always been used as a hedge in economic hard times and is where some of us plan to park a portion of our new wealth. Let's tie in the recent events.
Perhaps the most recognised former KGB official is Russian President Vladomir Putin. Others are not in the public eye, some of whom are downright scary. What some market watchers are beginning to wisper about is that in retribution for the theft of their money in Cyprus, these financially savvy 'entrepreneurs' may decide to buy heavily into the metals markets and drive up the prices beyond what can be controlled by the current system.
Yes, I said controlled; it is plain to see that the price of gold and silver at least have been managed for nearly ten years and are not simply market driven. You can watch the manipulation since the trend really started moving a few months after Basel II was penned in June of 2004.
When I bought my first gold coin in 1985 it cost about$265.00 and remained about that mark until early in 2003 but the same coin's cost has banged on the door of $1700.00 recently. You can check Kitco for a current spot price.
So what? Who cares if some rich guys buy a bunch of gold? Most people understand that high demand drives prices up, but those same people have'nt noticed that the market price for gold has remained fairly static for a prolonged period despite the feverish buying by governments around the world especially China, India, Brazil, and Russia - the BRICs countries.
No one seems to notice that Syria is quietly buying, or that Vietnam has even asked its citizens to turn in their jewelry and family heirlooms to be melted down and added to the wealth of their nation.
Now throw in a rogue bunch of mega-wealthy businessmen, at least on par with Trump and Buffet, who may follow George Soros' lead to buy then dump huge amounts of metals...which the experts fear may cause a sudden jump in gold price, some say over $5000.00/oz.
How will that affect the value of currencies for those countries trying to return to an asset backed system? How might that affect other commodities prices; grains,oil, steel...
So, continue to pay attention. There is so much going on out there besides the RV of the IQD and it is all inter-related. You must build in some flexibility to your plans and be ready to move quickly.
Most informed people are certain that this is a global reset, and most currencies will be involved either gaining or loosing in value. Throw in some added uncertainty in the precious metals markets and there will be tremendous opportunity to grow your portfolios.
Just be as informed as you can be and make decisions that you can live with.
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