Gold is riding high again on Tuesday as the U.S. dollar index slumps and fears begin to set in over the stalemate in Europe between Greece and its lenders. Despite the “all is calm” rhetoric of a week ago, there are tens of trillions in derivatives at stake that could take down big banks across the globe. Investors and markets are fearing the unknown today as gold last reported is $1213.90 and silver is $16.65.
Greek Prime Minister Tsipras maintains he’s confident that a deal will be worked out over the next few weeks, based on absolutely nothing. Athens for all intents and purposes is insolvent but that doesn’t stop Tsipras from threatening lenders with a referendum if they insist on making unreasonable demands that are unacceptable to the Greek government. The head of euro zone finance ministers is calling his bluff by stating Greece doesn’t have enough time left for such a vote as its cash reserves dwindle.
Eurogroup chairman Jeroen Dijsselbloem openly stated that “without further loans, Greece won’t make it, that’s the reality.” When questioned about a possible referendum, he said, “it would cost money and create great political uncertainty, and I don’t think we or the Greeks have time for it.”
Greece needs to understand the only thing EU creditors want to hear is the sound of about 750 million euros being delivered into the IMF bank account on May 12.
At a closer glance, we see the U.S. economy in a stalemate since 2008 as more than 92 million Americans remain unemployed with millions of others, like 50 percent of Walmart employees forced to seek welfare assistance because Walmart doesn’t pay them enough to survive.
ISIS continues gaining ground in the Middle East and now it’s been reported that Iran has seized an American naval vessel as it entered into Iranian territorial waters. Washington is claiming, “no it’s not an American vessel” but admits U.S. planes and a destroyer are “monitoring” the situation.
Wall Street is riding high this year as the “Big Six” banks pump the markets further enticing the sheep , until they are ready to cash out. Remember the typical market corrections the U.S. stock market saw on a yearly basis when markets weren’t completely dominated by the bankers?
Russia and China are working together successfully luring “our” allies to “their” side of the playground as Washington remains impotent on the sidelines. America goes further in debt while Russia and China buy more gold.
We have reports that JP Morgan bank is amassing hundreds of millions of ounces of silver at a time when silver prices have been repeatedly slammed lower. Why? Aren’t paper assets like stocks and the U.S. dollar safe like they claim?
We must realize that our turn to pay the piper is rapidly approaching and our creditors, just like those in the EU will want to be repaid in full at the appropriate time. Washington can barely afford to pay its monthly debts owed at zero percent interest. Are we sure this small issue of our 18 plus trillion U.S. debt is nothing to be concerned with?
Global economies that survive on debt eventually die on debt. The current situation in Greece lends credence to this view. Debt always demands repayment.
Gold and silver are trusted by central bankers and world governments for a good reason. When all else fails, you still own real money.
Give us a call and begin protecting a portion of your wealth with physical precious metals. 1-800-577-3195
Gold Goliath is not your typical gold dealer.