The Reverse Of Central Bank Gold Flows Spells The Death Of The Dollar

Something BIG changed after the collapse of the U.S. Investment and Housing Markets as a huge crack in the Fiat Monetary System took place.  After the world nearly disintegrated under the debt-based U.S Dollar system in 2008, some of the Central Banks of the world finally found MONETARY RELIGION.

At this time, and according to some of the more enlightened Central Banks, gold was no longer a worthless piece of metal whose sole purpose in government was to be pawned off to support a worthless paper monetary system.  In just a few years time, the huge flood of Central Bank gold into the market dried up and switched to become a large source of demand.

This can be clearly seen in the chart below:

Official Central Bank Gold Demand

From 2003 to 2009, the Central Banks flooded the world with 2,880 metric tons (mt) of gold.  Not only was this a large liquidation of Central Bank gold at very low prices, but it also acted as means of suppressing the paper price by providing extra gold supply to the market.

The largest annual net flows of Central Bank gold were in 2003 at 620 mt and in 2005 at a peak of 663 mt.  Then the trend continued downward (except for the 487 mt in 2007), until it reached a mere 34 mt in 2009.

I would imagine after the FED embarked on its wonderful QE MONEY PRINTING policy, some Central Banks finally said, “Enough is enough.”  And in 2010, the tied finally turned as Central Bank demand for the precious yellow metal went positive for the first time as a net 77 mt of gold were taken off the market.

In 2011 Central Bank gold demand increased to 457 mt and then shot up even higher to 544 mt in 2012.  Even though 2013 Central Bank gold demand was less than 2012, including the estimated 450 mt for 2014, it still represents more than 10% of total global gold supply… and that’s a BIG NUMBER.

So, instead of the 2,880 mt of Central Bank gold supply fed into the market from 2003-2009, we now have nearly 2,000 mt of Central Bank gold demand taken off the market in the past five years.  I would imagine this will only grow larger over the next several years.

The figures in this chart are from the World Gold Council Demand Trends Report.  Yes, I realize these are “Official figures” and we don’t know just how accurate they are, but they are the best we can go by.  However, what is not included in these figures is Chinese Central Bank gold demand.  We have no idea how much gold in heading into the Chinese Govt vaults as they have not made any public comments updating their official gold reserves.

So, if these World Gold Council figures are the best we can go by, and it does not include Chinese Govt demand… then total Central Bank gold demand is probably way off the charts.

Russian Government Purchases 34% Of Total Known Official Central Bank Demand Q1-Q3 2014

Now, what we do know is that the Russian government purchased 34% of all official Central Bank gold demand in the first nine months of 2014… again, according to the World Gold Council:

Official Central Bank Gold Purchases Q1-Q3 2014

Of the official reported 335 mt of gold purchased by Central Banks from Q1-Q3 this year, Russia purchased 115 mt (34%) of this total.  Again, Chinese Govt demand is nowhere to be found in these figures.  Which means, real Central Bank annual gold demand could be well north of 1,000 mt, or nearly a third of global gold mine supply.

The first chart in the article shows exactly when the DEATH of the FIAT MONETARY SYSTEM began… 2009.  Of course it will take more time and a lot of additional Cow Excrement put forth by our wonderful brothers in the MSM, including continued rigging of the markets, but the death of the World’s Reserve Currency grows closer each and every day.

When the U.S. Dollar finally dies and goes down in history as just another one of the 100% of fiat currencies that perished before it, it may become quite a disorderly event.  Trying to time this event may be the worst decision an individual could make rather than accumulating the precious metals when the opportunity remains.

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42 Comments on "The Reverse Of Central Bank Gold Flows Spells The Death Of The Dollar"

  1. Someday the dollar will die. But the Yen will die first. And that puts a bid on the dollar. Look at how long the Japanese Powers That Be have kept up the incredibly doomed Yen. Even more amazing, most Japanese keep MOST of their money in the doomed currency. Human Psychology is amazing.

    My point is that if the Japanese can keep going as long as they have (QE11) then imagine how much longer the dollar has to go?

    This rally in PM’s today is only because the Status Quo want it to go higher because a) they don’t want a strong dollar (Richards once said that at some point the Powers That Be will want gold higher if deflation becomes too threatening so this is a good lever for them to some point without having to QE) and B) they have to let silver prices go higher or the industry and supply will be in real trouble not too long from now.

    One day, the PM’s will truly trade freely. But in the master game the scumsucker bankers are playing, we are a ways from that I think.

    • The yen is a derivative of the dollar which has always been the king of hell.

      If yen dies, I think dollar (with euro and sterling) will do so quite quickly there after.

      • @RD, either the dollar will die quickly thereafter if Congress doesn’t take an axe to entitlement spending or all markets will crash if they restructure because they don’t want the dollar to go to zero.

        Also, this move in gold and silver just shows that it is speculators and the banking cartel that completely run the show.

        • Except if BRICS decide to break the western cartel but that is another issue.

          I do not think yen will disappear, neither dollar, I think the most probable scenario is a reset of world debt, some of relative value between international currencies.

    • Brian Scrocca | November 15, 2014 at 9:33 am |

      The whole FX derivative market is connected like a daisy chain. One of these major ones going down will set off a myriad of consequences as we are now into 100’s of Trillions fiat performance contracts. What currency,country or planet for that matter will guarantee it all. Their is no doubt in my mind we are staring right into the barrel of a monetary reset,especially in Western Finance. Gold will be the only anchor and counterweight to balance all the books of the Banksters. History of Fiat Currency ….Great book by Robert Foster. 5000+ Govts and their currencies into the trash can. Some several times. That is what you buy Gold for. A hedge against their lack of ability to lead and manage. Which is surely coming to an end and rather quickly.

    • I think the japanese were able to keep going this long because for most of the time since their crash other world economies were still expanding, reaching absolute debt saturation.

  2. That is clearly something which could broke the system and the real question is how much gold is hoarded in the west and available to be sold or leased including BIS/IMF gold and especially other historical gold such those of vatican, jesuites, royal european families and so on.

    I am not sure the above stocks are soon to be depleted but up to now each year passed is a year less before the breaking point !

  3. Steve thank you for your excellent post. I am afraid,we don’t have a clue about what’s really going on in the physical market. There seems to be a massive shift from West to East, if you believe the numbers, Koos is posting all the time. You get the impression, that there is a worldwide redistribution going on.

    Could be a concerted action by international central banks, who want to redistribute the world’s metal according to what they think is just.

    It is like the notion of a “remaining carbon budget” for humanity. The IPPC says, that in order not to surpass an earth temperature of + 2 centigrades, humans have to limit themselves not to burn more than xx bn tons of CO2. And the governments think, they can come together in a big conference and make a bargain, which bloc allowed to burn how much fossil fuels.

    Thats, what you call world government, folks, pure and simple.

    I don’t believe the climate story though. It’s how they plan to “manage” Peak Oil.

    • Andreas,

      I do believe in CLIMATE CHANGE, but that has nothing to do with PEAK OIL. Actually, we have entered a RUNAWAY CLIMATE CHANGE EVENT that can’t be stopped. I am not going to argue that now, but it will be a topic for further discussion.

      We now realize (climate scientists who know what the hell they are talking about) that the burning of CARBON and increased global temperatures have a 40 YEAR LAG EFFECT. Bascially, what we burned 40 years ago is impacting us today. We are SCREWED…LOL

      Again, I am not going to debate this issue. Why? because there is nothing we can do about it anyhow. Bickering over the STUPID ISSUE that the so-called Liberal Climate Scientists are manipulating the data (so on and so forth) is complete insanity when the GAME IS ALREADY OVER.

      All we have to do now is wait for the 40+ Global Warming Feed-back loops to finally DO US IN…. LOL.

      However, PEAK OIL is here and we are just waiting for unconventional peak. This has nothing to do with climate change, but the Peak and Decline of cheap oil.

      I speak with many OIL GEOLOGISTS and ENGINEERS who actually look for oil and they all know PEAK OIL is here. No conspiracy

      steve

      • Steve, no issue with Peak Oil – your view on this is what brought me here. About AGW we could argue. I am a layman and I know, that I cannot be sure about it, not at all, but 100 ppm CO2 + in 200 years while having burnt half of the world’s oil and a substantial part of coal does not impress me.
        http://staatsstreich.at/thought-of-the-day-paleoclimate-and-carbon-dioxide-concentration.html
        And I don’t trust the experts either.

        But I agree not to discuss it now, it’s clearly OT.
        Just wonder, what you/your children will do with all the silver ounces, when the planet is being roasted. No offence intended. A.

        • Andreas,

          This has been a REAL CONUNDRUM for me. I was about to roll out my PAID REPORTS PAGE when I came across new data in the beginning of this year on the huge spike of methane emissions coming from the Arctic including the Northern Siberian Arctic Shelf.

          NASA’s CARVE project recorded 150 kilometer long methane plumes coming from the Arctic Ocean last year. Which means, large portions of the Arctic Ocean were behaving like champagne.
          However, it was a methane champagne cocktail.

          These methane emissions are staggering… and this is just the beginning. We have triggered a global warming event that makes any in the past seem insignificant.

          I have been contemplating on whether or not to continue chatting about gold, silver, the miners and energy or spend the rest of the time we have (30-50 years) with my family on our 5 acre property before the climate makes living on this planet quite impossible for the 7 billion.

          This heating of the Arctic due to the rapid increase of Methane emissions which is 100 times more powerful a climate heating gas than carbon on a SHORT TERM BASIS, is destroying the normal mechanics of the JET STREAM. Instead of really cold air staying in the Arctic, the Jet Stream is now weakening, slowing and experiencing very long waves that head way south. Thus, bringing the so-called POLAR VORTEX south.

          This is not a NEW ICE AGE…LOL. A new ice age can only occur if the northern latitudes become even COLDER than the SOUTHERN. The arctic is heating 4-6 times the rate of the planet… which releases more methane. Rinse and repeat.

          So, to answer your question, I still don’t know what happens in the future, but it’s better to own gold and silver as the climate system makes life more difficult than owning paper garbage.

          Again.. I still am deciding how to go from here.

          steve

          • With a science background and a degree in geology the C02 greenhouse gas zealots are way off. C02 isn’t much of a greenhouse gas. Volcanic eruptions emit colossal, mind-boggling amounts of C02, and that goes on constantly. Not a decade or two has gone by since the dawn of mankind without volcanic eruptions.

            Methane is a different matter. It is a real bad-ass greenhouse gas.

            To the extent it is an accelerating release into the atmosphere, to that extent we have problems on the horizon.

            However we need science, scientists, and scientific data, not moronic politicians & mainstream media dimwits advancing the issues

            In the geologic past we have had warmups that accelerated due to trapped methane being released at ever-greater rates. This is nothing new.

            All things move in cycles; in time the earth cooled to more temperate levels. Mankind may be gone but we all will die anyway.

          • You can’t spend 24 hours a day with family. You need *some* time away to really enjoy them. So chatting about fiat or stocks or gold or sex is perfectly acceptable with some of you time IMO.

            I too believe there is real climate change happening. I don’t know how any thinking person can deny it.

          • Try reading the Bible.

          • Before all of you start selling your PM’s in light of Steve’s DOOMSDAY predictions for the next 50 years or so, I would read this article, just to keep the other-side of the discussion balanced.

            http://joannenova.com.au/2013/08/global-methane-emissions-driven-by-soviet-leaks-volcanoes-and-el-ninos-not-cows/

            Some scientists will have you believe they know everything there is to know about this planet. Let me be the one to tell you “THEY DON”T.” In fact the “I know everything” scientist knows very little. It wasn’t that long ago they would have had you believe the earth revolved around the sun or the world was flat. You could have lost your head or been nailed to the cross for having views that didn’t agree with these bigots.

            Critical thinking skills are obviously becoming a skill of the past. 🙂

          • Steve, I understand. Thanks for the hint. Going to read that up.

          • B_asic I_nstruction B_efore L_eaving E_arth

          • Kudos to our (non-physicist?) web host for getting the correct methane badness factor. CH4 is indeed about 100 more climate warming than CO2. The factor of 28 invariably spouted in the lame stream media is a completely erroneous attempt to take the short lifetime of CH4 into account. The reason why ppm concentrations of CH4 are still (thank God) very low is precisely because it is continually decomposing. However, it remains that every molecule of CH4 causes 100 times the radiative forcing of a CO2 molecule. Hence the incorrect factor of 28 figure is a result of a sort of double counting.
            As of now, the CH4 contribution to radiative forcing is about the same as the CO2 contribution. In common with several other posters here, I think the trend is towards it becoming the dominant contribution, in which case all the hot air spewed out by politicians and polito-scientists about reducing CO2 emissions is a complete waste of time. And yes, It could become a convenient cover for dealing with the uncomfortable reality of Peal Oil.

          • How can any thinking person believe this garbage global warm…..i mean ”climate change????” Just the fact that they replaced it with a phrase that is just (climate change), proves they full of it. Climate change IS real, we have 4 seasons and cyclical sun cycles… Oh wait, the global warming ”scientist” say the sun has no effect on climate…. Read that again and think hard…. Sun = No effect on the planet???????? Im sorry, but this is the MOST ridiculous claim they have made and should red flag all of you ”believers.” I have also seen countless interviews with ”experts” that will say how high our c02 is now compared to history, and then they state that it has been HIGHER 100s of thousands of years to millions before the recent century. So if thats the case, humans werent even around to affect it!! Its all in cycles. Sorry, end rant.

            This is also not even a valid topic that needs to be address seriously though. Our financial/banking system and fiat money problems trump EVERYTHING. Humanity will never be truly free until we break the financial slave chains that effects every person on this planet (maybe not so much for people living in small tribes that are self sufficient amongst themselves. Dont let the establishment trick you to what it important to your freedom. Independence.

            Peace and love!

          • Hi,
            As much as I know the O2 in the air is developed by photosynthesis. There is %21 O2 in the Air and %0.04 CO2 . Most of the remaining carbons must be under ground in some form. So there must be quite a lot Carbons remaining to burn. I this is the case?

          • markun,

            From what I know about all of this… the burning of carbon since the start of the Industrial Revolution has pushed climate change into an exponential fashion. Carbon is no longer the issue.. it is now the Rapid Release of Methane.

            steve

          • I realized the Carbon under ground must be in large collected amounts and to be in chemically efficiently burnable form in order to be usable by humans.
            So this form may a quite a low percentage of al Carbon under ground.

        • “Just wonder, what you/your children will do with all the silver ounces, when the planet is being roasted.”

          Buy more air conditioning?

          As long as there is a medium of exchange during a crisis time, silver or gold will be better than colored paper.

      • We all will be busy dealing with a government carrying out agenda 21 and using Climate Change to tax and control us to death. We are in a warming period and the coming cooling period will be more of a problem. And don’t worry the earth will be here when we all are dead and buried.
        Like drug addicts,people will continue to pay for their gas. I don’t see gasoline not being used in my lifetime. Hydrogen seemed to hold promise. If we only used all that money and intellect for something beside never ending war’s.

        • Ron,

          As I mentioned to one of the bloggers, I am not going to debate this issue now. We all are programmed to believe a certain way due to the INFO & DATA we absorb. So, trying to debate an issue such as Climate Change is completely useless because the programming does not allow data that goes against the software program in out brain that conflicts with it.

          That being said, I believe the world will understand we have entered into an EXPONENTIAL GLOBAL WARMING EVENT within the next 5-10 years.

          Again, there is no use debating this because there is nothing we can do about it… ITS A DONE DEAL.

          steve

      • Steve I remember that last winter you made the forcast that the Polar Vortex will happen again this winter. I am very impressed from you got it absolutely right.

        http://www.zerohedge.com/news/2014-11-17/polar-vortex-20-arrives-all-50-states-will-freeze-tonight

        http://cci-reanalyzer.org/DailySummary/

        • GermanReader,

          I believe the Polar Vortex will continue to be a HUGE problem for years to come. The warming of the Arctic (4-6 times the rate of the planet) has decreased the temperature differential between the Hot Equator and normally Sub-Frigid Arctic. This has destroyed the normal functioning mechanics of the Jet Stream.

          We must remember our physics. When very HOT & COLD air temperatures meet, there is a great deal of high winds–fast movement. However, when this temperature difference declines, it slows the wind speeds.

          Thus, the JET STREAM is now slowing, causing huge waves that dip far south reaching areas where it normally doesn’t hit. Which means, we could start seeing huge freezes taking place in the CITRUS BELT destroying much of the trees that have been around for 50-100 years.

          The VOLATILITY of the JET STREAM is what will make growing food quite difficult going forward. Most think global warming means it just gets hotter…LOL. No, it means that normal weather patterns are over and we head into a future that is quite different and much more volatile.

          steve

  4. Silver Curious | November 14, 2014 at 12:12 pm |

    Hi Steve … I was wondering if you could do a article on “GLD Demand” vs. “Physical Asian Demand” … you see, there’s these Paper Bugs out there who place great deal of importance into a couple tons of Gold moving in and out of GLD every other day, whereas, by my rough calculations it looks like;

    * China is roughly consuming the equivalent of 2.85 GLD inventories per year.

    * India is roughly consuming the equivalent of 1.2 GLD inventories per year.

    So… my quick & dirty match indicates that just China and India alone roughly consume the equivalent of just over
    4 entire GLD inventories per year… so when you thrown in Russia, Vietnam, the Korea’s, Japan, the Stan’s, etc; Asia would be consuming the equiv. of several entire GLD inventories per year.

    Given the above rough stats; If Gold consumption continues in Asia at it’s current pace, it looks like the Asians and Indians are going to vacuum up free floating Gold supply within the next few years, IE: within just 5 years from now India and China alone will have vacuumed up the equivalent of roughly 20.25 GLD inventories.

    Could you shed some more light on the stats between GLD inventories & Asian demand? …. I think the info would be of great interest to the Paper Bugs …. thanks.

  5. Howzzzz it goin’, slaveTards? LOL!

    Here’s a superb concise article gives exact picture snapshot of the BIG PICTURE unfolding clearly post-WW II by the OP (Occulted Principals= Illuminati).

    Y, I’m SHOCKED to find out that not only are they team players, they’re all on the same team!

    Trivial & inconsequential players like Owlgore & his GoreBULL ManBearPig Warming schtick are just bull$h!tters put out there to distract u.
    time-wasting shill worthless nobodies.

    meanwhile u continue to ignore the key frontmen messengers who although their delivery is to arrogantly howl & scream hysterically & maniacally , they are telling u, nay BRAGGGGING about what u’ve got coming!!

    BTW, recall that brazen Economist cover from 1988 bragging about a NWO currency by 2018?

    One example of a functional arrangement is the BRICS alliance. It cuts across regional lines and gives form to the dialectic clash between Anglo-American bankers and BRICS bankers which will birth the NWO. Another example is the International Monetary Fund, which will manage the new global reserve currency after the engineered East versus West drama has climaxed.

    With the planned structure of the New World Order laid before us, let’s have a look at how the Rockefellers planned to get America to join in.

    http://redefininggod.com/2014/11/the-rockefeller-plan-for-the-brics-new-world-order-in-their-own-words/

  6. It would be interesting to see the gold price superimposed on central bank demand. That would tell you a great deal as it will show that increasing demand results in falling prices. The demand must be coming from somewhere and of the last few years mine supply is not enough.

    On the unfortunate topic of global warming (AGW) Steve would be wise to check out the atmospheric record of CO2 levels which goes back to 1756 and is quite accurate from about 1820. This shows that atmospheric CO2 levels were higher at times in the recent past than they are today. In fact the climate was colder during the C19th when CO2 was hitting 440ppm by approaching a degree celcius. A similar high was reached in 1942.

    This tells us two things:

    1) Natural variations in CO2 levels are at least as significant as anything us humans have done.
    2) CO2 does not cause global warming.

    The AGW freaks simply ignore the accurate atmospheric CO2 record in favour of the ice core CO2 record. They have not falsified the atmospheric record or even attempted to do so. They dishonestly, unscientifically and simply ignore it. The man who invented the ice core CO2 method and spent twenty years developing it came out as a true scientist at the end of this period and said “it does not work”.

    AGW is thus simply falsified by existing data and was falsified before it was first hypothesised and then became fashionable and profitable for some.

    The planet is in grave and imminent danger of a return to much colder climates. While mean global temperatures have been falling on average over the current century things are going to get much worse in the coming years. The jury is still out on whether we are going to get a new Grand Solar Minimum Cycle as was in the little ice age or a new Grand Solar Regular Cycle. Either way it is going to get much colder as we descend the downside of solar cycle 24 later next year. If we are unlucky and it is a Grand Minimum cycle this could indeed be sufficient to trigger a full blown glaciation which could impact within as little as twenty years. I put this probability at maybe 10% and hope we will be blessed(!) with a Grand Regular Solar Cycle which I put at 60% right now. Agricultural production will be badly impacted in this eventuality but it will be survivable for the majority, wars permitting.

    • And what exactly does this have to do with gold? You are way off topic and you have been hood-winked by very expensive public relations bs from the Koch Brothers.

      • Your biases are showing Tim. I suppose you think the PR spin coming from Soros and his millionaire/billionaire buddies is perfectly acceptable?

  7. The total amount of gold mined in human history is around 160,000 metric tons. So 2,000 metric tons is not 10% of world gold supply, – more like 1.25% – which in my view is still very substantial.

    • tim,

      Correct… however, I was referring to annual gold supply which is roughly 4,000+ mt when we add in recycling.

      steve

  8. One time some scientist figured out how to create life so they challenged God to a man-making contest.
    God agreed and let them go first.
    When they reached down and got a handful of dirt, God said: “Now wait a minute, you have to use your own dirt!”

  9. Just found this video from Chris Marterson about Shale Oil , it is a must see for everyone interested in peak Oil. Chris is showing in this video how short the Shale Oil boom will last.
    Also a must see for everyone who believe that the paper ponzi scam will finally be killed from Peak Oil.

    The Crash Course – Chapter 21 – Shale Oil: http://youtu.be/xliyZMPJvjk

    By the way Steve I totally agree on your view on climate , we are absolutely f….d.

  10. “The tied”… Sigh, (sic) double (Sic)
    And people scoop this up like tofuti, (Sic).
    Quick buy my Ag, plus a fire sale now on AU!” (Sic)
    The best education fiat ever paid for.

  11. A native American would say,… mother does not need us,…. we need mother. That pretty much sums up the problems we face on global climate change. Doesn’t matter what the science actually is, if mother decides it’s time for a reset we are just along for the ride. It’s all way off topic? Or is it. Everything has always been tied together. However, now with the population as large as it is in the world,… peak everything is a real possibility and oil may be the least of our problems.

    Any black swan event could cause what we know,.. to turn into what we did know. No matter what happens PM’s are a much better bet in what ever Cataclysm we face. If people survive but banks fail trading will be the back up, and barter is a dismal failure. Barter is a trade of last resort. Because one party almost always feels they lost in the trade. Also a person may not need what the other has to trade. That may mean a swap hoping for another swap and perhaps another swap until desired needs are met. So if PM’s are available I feel they will be the preferred trade in many cases.

    We face so many problems in our uncertain world that PM’s are a smart choice. Anyone who sits it out for a wait and see could find themselves surviving the Cataclysm and dying from an error in judgment. Lets throw out the charts, and just be realists. If everything continues as is and life goes on are we worse off in the world by holding PM’s ??? Nope, I don’t think we are. Sure we can’t eat it, but it’s a form of exchange that has worked since structured societies inception and even in the days of the clan or tribe.

    If history repeats itself, and it always does. Being a bunker minded PM holder is a smart man. I won’t waiver on my strong support of it’s liberating beauty and it’s honesty. There is a very dark storm brewing for mankind. No matter what happens things are going to change and I think that change will be a major one and could happen very fast. My gut is on high alert.

    Those of us here involved in PM’s feel it. We don’t know what form it takes. We try daily to discover the hidden secrets, the search for the truth, a chance to make sense out of everything that makes no sense. If we knew the future we would prepare for it. None of us have that blessing, but we do see things happening. Things that are crazy, things that are chaos, things that are a change we don’t want, yet we get.

    So if we live in chaos. Currently it’s controlled chaos, but that could change in seconds. Hold onto things that are sound, things that are grounded. These are things that bring piece of mind. What ever they may be. PM’s , Food, Ammo, Remote Property, what ever makes you more at ease. I think you just have to listen to what your subconscious tells you.

    If in the end the sky never falls, is being a squirrel with plenty of nuts such a bad thing? To me, if any nut holds a place of value in chaos it’s PM’s and if it’s good enough for Bric nations who seem to be kicking the snot out of the western shores,… hey why not. We might disagree on many topics East verses West, but on sound money we think alike. (people awake and aware anyway)

    Now if the power shifts and the East rules maybe that all goes out the window, who knows. Or maybe they really are onboard with yet another central bank NWO plan,… we don’t know. Again we can guess till the cows come home but have no definitive answer. Again through it all I think you have to question what makes me feel grounded. In uncertain times it’s what you can touch and know to be real. Not what your computer says your stocks, bonds, bank accounts, or other electronic media says has value.

    That can evaporate at time warp speed. We have seen it and know it to be true. If you don’t have near 100% faith in an investment,… is it an investment? These are the ways I look at things and it’s just my opinion. I have made bad investments. I like to think I’ve learned a few things in 48 years of licking wounds. My PM’s go up and down, but I know where they are. I pay no service fees. I can hold them. And I don’t see the day that they go to zero. It could happen, but I feel the percentage of that likelihood is small.

    Now many sitting on the fence like to say,… yeah but they will come kill you and take it. Well think about that, the government coming after your assets. It’s happened here before(gold), but it was voluntary. Now try it the other way and think about it. If things are that bad then it’s a free for all. We are talking law book out the window and man verses man. A man will defend his family, property, and wealth. If you think everyone will just submit I think your nuts.

    Sure it’s possible and they have the might to carry it out. But just how popular an idea do you think that’s going to be to even the most die hard government statist and pro central bank ally. That’s a move that could back fire in ways they never even imagined. Personally I think that’s a move of absolute last resort. It could just as easily backfire as go as planned. People are pissed off with the system already it wouldn’t take much to disturb the balance and that’s not just a small brush fire.

    If that scenario ever takes place I think It’s a complete break down of society. The picture in my mind is that of a Viking raid. The statist and government are set back 1000 years. It’s all lost at that point. Hello chieftains & warlords. Everyone has a survival instinct, but we all also have something we will defend to the end. We haven’t been tested in this country in a long time so it’s easy to dismiss and call crazy but let sh*t stick to the ceiling and lets see what really happens.

    It’s an interesting time to be alive. A military saying thumps through my head a lot,… pray for peace and prepare for war. It’s a mind set that does lend it self to what many of us are doing. We hope and pray everything is going to be okay. But life being uncertain we also try and be as ready as we can for that which we never expect. It could be anything, anywhere, anytime. We all think differently than we did prior to 2001 and 2008 topped it all off. We now see our world in a much different way.

    We have all grown smart like a fox and are better for it.

  12. Hi Steve,

    Great article, thank you for your hard work on getting this information out there. Am I the only one who finds it strange that the gold market started a bull run in 2001 and continued while the central banks were net sellers of gold (2003-2009)? I am wondering who was soaking up all the gold they were selling? I mean wouldn’t you think that since they are net buyers of gold at this point the price would be continuing to climb? I guess central banks do everything backwards…..

    cheers, Mr.T

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