THE CHINESE AND MAGINOT GOLD LINES

There are critical moments in time that can change history. This week I will talk about two lines which are extremely important, as these two lines will change the world for years to come. The first is a Chinese Gold Line which is linked strongly to China’s history. That line has an important connection with what will happen in the world in coming years. The second line is a Maginot Gold Line which will also shape the world for many years or even decades.

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DE GAULLE CONVINCED NO US GOLD LEFT

Tinker, tailor, soldier, sailor, rich man, poor man, beggar man, thief

This old nursery rhyme, or counting game, dating back from the late 17th century, could be seen as a prediction of things to come. Many people, from various backgrounds, could soon

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IF YOU UNDERSTAND GOLD – YOU ARE NOT A GOLDBUG

What is a Goldbug? If we look at Wikipedia, they define it as “a person who is extremely bullish on the commodity gold as an investment and or a standard for measuring wealth …… goldbug can also be used as a pejorative”. Investopedia states that “A gold bug is an individual who is very enthusiastic about gold

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GOLD – THE ONLY SAFE PLACE

In 2019 the investment world will start to realise that asset markets don’t grow to heaven as stocks, bonds and property start their long journey down which will eventually lead to declines of 75% to 95% in real terms. But the major risk is not just investment markets. Just as important is counterparty risk which too few investors are concerned about.

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TIMES A-CHANGIN’ – BUT GOLD PERMANENT

Long term holders of gold have a different perspective of the world. They are not believers in instant gratification. Nor do they believe that a world based on money printing and debt can create sustainable wealth. They also know that the socialism which has spread like a plague in the Western world only works until you run out of other people’s money.

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FREEGOLD WILL KILL THE PAPER GOLD CASINO

We are now in the very final stages of the most remarkable era of alchemy in the history of finance. This cycle started in 1913 with the creation of the Fed and had its death knell in 1971 when Nixon took away the gold backing of the dollar. It has been a long and slow 50 year death of the world economy and the patient has only been kept alive due to the creation of fake money, fake assets, fake (paper) gold, fake wealth, fake valuations, fake balance sheets, fake bankers, fake politicians all built on a colossal mountain of fake debt.

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THE PRICE OF GOLD IS SETTLED IN A CASINO

Greg Hunter interviews Egon von Greyerz on USA Watchdog
In this interview Egon covers a number of subjects which will have significant impact on the world economy including:

  • Europe a basket case – Brussels elite is petrified Brexit will cause…..
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EASTERN AND WESTERN CENTRAL BANKS SUPPORT GOLD PRICE

Both Western and Eastern central banks are now fully supporting gold. Precious metals investors can with total confidence buy and hold physical gold, silver and platinum in the firm knowledge that central banks both in the West and the East will by their actions guarantee that the price can only go up. But the support from West and East is very different. Western central banks have not been friendly to gold for decades as they have significantly reduced their holdings.

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BANKS ARE BLOCKING CLIENT ASSETS

The risk of holding cash or gold in a bank is increasing continuously. Later on I discuss the difficulties bank clients encounter in taking money or gold out of their bank. The word risk can be traced back to Greek via Latin to root or cliff. These were the the dangers that Odysseus encountered when he sailed between Scylla and Charybdis (a rock and a hard place). So root and cliff were the “risks” that sailors encountered in the sea. A more modern interpretation of risk is “Identification and evaluation of dangers that could prevent us from reaching our objectives”.

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GOLD CONFISCATION AND MANIPULATION

Owning gold is life insurance and wealth preservation. Anyone who has lived through hyperinflationary periods in the Weimar Republic, Zimbabwe, Argentina or Venezuela understands the importance of gold. But it is not enough just to own gold or silver. It is also extremely important how you hold it and where you hold it. We have just seen another example how governments unilaterally “confiscate” gold.

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THE END OF A SUPERCYCLE

In a world based on fake paper and fake electronic money as well as fake asset values, the real significance of gold has got lost. With endless credit expansion and money printing, all asset prices have exploded and investors have made fake profits that seem real. But the imminent secular downturn of debt and asset markets as well as the world economy will reveal how unreal these profits were as 90% or more of all the paper wealth in the world will go up in smoke. So investors should now prepare for the biggest wealth destruction in history and also the biggest wealth transfer.

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WHERE IS ALL THE GOLD GOING?

Where the gold is going is certainly no secret. Whilst the West has not got a clue of the strategic significance of physical gold, the East’s accumulation of the yellow metal continues unabated.

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THE BULL IS DYING

Bulls are not killed off easily, They are strong, fierce and have real staying power. And this is what should be expected at a top of a secular bull market. Injured or weakened, the bull will still go on which is the case with many stock markets. Whilst some markets have peaked globally, others show strength. A week ago markets were ruffled by major falls, Was that the signal for the end of a multi decade bull or was it just another brief correction before the bull breaks out to much higher levels? With a further fall this week, the Dow is now down 2,000 points in October which certainly confirms that the bull is seriously injured, maybe fatally?

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THE PARTY IS OVER

“What a difference a day makes”! Well we didn’t get the sun and the flowers like in Dinah Washington’s song but more like storm and showers. For the ones who don’t remember Dinah, Amy Winehouse made a more recent version of the song. Last week I warned investors again, in the strongest tone possible, of the risks in markets. So what triggered it? Was it the Fed’s interest rise? Or was it the trade war with China? Or maybe it was Kavanaugh?

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DEFICITS, RATES & GOLD TO REACH VERTIGINOUS HEIGHTS

The end of an empire is a dramatic but also drawn out event with very few willing to face the facts. As the end is getting closer, denial is at its peak. We can probably figure out how it will end but not quite when. Looking at the facts, the beginning of the end is here. The signs are clear. Here we have a country that for the last 27 years has doubled debt every eight years and the trend continues uninhibited. This is a country that for decades has been living above its means by borrowing unlimited amounts. Well, it is not a Banana Republic, nor Argentina or Venezuela but the biggest economy in the world – the soon not so great USA.

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GLOBAL DEBT IS A PEST THAT MUST BE ERADICATED

The coming gold and silver surge is guaranteed. It is not a question of IF but only WHEN. Initially, the imminent revaluation of the precious metals will have nothing to do with an investment mania but with the total mismanagement of the world economy. A spectacular rise in the metals is just a reflection of the mess the world is in. But as the paper market fails in gold and silver, there will be panic and manic markets.

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