Snowden tweeted ..It's time.
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>>> http://news.sky.com/story/more-peopl...banks-10521617
With the Bank of England today cutting the base rate to 0.25%, which is the lowest in its 320 year history following seven years of it being stuck at its previous historical low of 0.5%, and with the resumption of its QE program, Brits who are paying attention will be heading to their banks in far greater numbers.
Snowden tweeted ..It's time.
The savviest Brits aren't sticking their wonga in home safes or under mattresses but converting it into real money.
'Brits Are Investing in Gold at Unprecedented Levels' - http://fortune.com/2016/07/18/britai...esting-brexit/
I believe that Gluey fella was saying this exact same thing towards the end of last year, but he was a lone voice and the usual suspects from the CCMB cabal mafia mocked him.
http://news.sky.com/story/uk-sailing...risis-10520931
The pound's value dropped 2% versus gold today, and you're sulking again. You're predictable, I'll give you that.
Any sensible person, anywhere in the world, at any time in history would stick a portion of their wealth (say 10%) into gold or silver and hope its price does badly. An insurance policy, if you prefer. Why you have a problem with perfectly sensible reasoning I don't know, other than you are unable to summon the energy to bother thinking about it or are being deliberately obtuse.
If you want a current, albeit extreme example, of why monetary insurance is so important, discover what's happening in Venezuela right now.
Gold is often an investment for when uncertain times are around. You don't need to be George Soros to know that.
However you've been advising it for years and until the recent Brexit vote it'd been going one way. Now you might think you've stumbled across a great money maker but anyone who'd been listening to your previous advice wouldn't have any money to invest anyway.
If I tip you to buy the sterling for the next ten years, there is going to be a time that advice will become true, well done on finally getting to that nirvana moment.
Yeah, faith in the bolivar is dropping at warp speed. All fiat currencies are a confidence game as they are backed by nothing but promises (and enforced by legal tender laws and jackboots of the state). BoE announcements today portends negative interest rates in the near future. These extraordinary monetary measures here and in Europe, Japan and USA have been going on since 2008. The can kicking has succeeded in averting a system crash, but for how much longer?
The gold price is suppressed by commercial banks who act as proxies for central banks. The very last thing the money masters want is people running from their pretty paper (that they can produce infinite amounts of) and into gold or silver because they can't print metals and they don't want people to realise how truly crap their paper is. They mostly control the price via paper contracts at Chicago's COMEX. There's currently around 200 paper claims to every ounce they have in their vaults. The manipulation is no secret as this Bloomberg article outlines. http://www.bloomberg.com/news/articl...ms-lawyers-say