End Game Coming For Greece – Gold Goliath

Posted on :Jul 08, 2015

Gold is slightly up in early a.m. trading Wednesday morning. As reported yesterday, someone dumped 1 billion in gold into the futures markets placing gold near a 3.5 month low. Gold last reported a.m. is $1163.40 and silver is $15.27.

Increased demand for silver at bargain prices has led the U.S. Mint to suspend sales on the Silver American Eagle 1 oz. coin for at least two weeks. June Silver Eagle sales were around 4.8 million ounces more than double the amount sold in May according to the Mint. Through June of 2015, the Mint claims it sold more than 23 million Silver Eagles.

The incredible opportunity to purchase silver for more than $8.00 less an ounce than it costs the average mine to produce it cannot last. Global demand continues outpacing global mining production as investors cash in on bargain prices.

Greek P.M. Tsipras is warning the EU and IMF that a banking collapse and humanitarian crisis is only four days away. The Greek government has submitted a three year rescue request as Tsipras is being hammered by euro MP’s.

Christian Noyer, head of France’s central bank has warned that Greece faces dire consequences if it fails to strike a deal this week stating the country will descend into riots and chaos.

Germany’s Chancellor Angela Merkel is facing growing opposition within her own conservative ranks as members voiced opposition to the idea of more aid for Greece.

Andreas Scheuer, general secretary of the Bavarian wing of Ms Merkel’s conservatives, was more vocal. “Greece has said No and as far as we are concerned that means no to negotiations and to a further aid package,” he told Germany’s ‘Bild’ newspaper.

Other leading conservatives agreed with the finance minister Wolfgang Schäuble, who has said that the “honest and consequent approach” would be for Greece to leave the Eurozone.

‘Der Spiegel’ magazine warned that Ms Merkel would have to “reckon with rebels” if and when the issue of further Greek aid is put before parliament, as it must be under German law.

Every nation around the globe exists today on perpetual debt including the U.S. Reality tells us that our day of reckoning is coming as well. We don’t have to become victims of a debt based economy when we can protect our wealth with physical gold and silver. Physical precious metals are also available for a gold IRA or other qualified retirement account.

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