06/07/2012
Steve Quayle's short interview with an international banker
Steve Quayle has posted a "financial alert" today. It is a short interview with an international banker who is a friend of his. It gives us a few things to watch, including a likely scenario in regard to the price of silver and gold. Probably the most important item is to know that it is not a good idea for the average person to purchase gold or silver futures, which are paper contracts. It is best to purchase actual silver coins or "rounds."
Watch for the collapse of the Euro. This banker says that it will take about 2 weeks for that event to "lay bare the dollar deception." Further, he says,
"At this point all (interest rate swaps) will cease, derivative swaps will implode and the truth of US dollar safe harbor will go up in flames."
At that point, he says, the price of gold and silver will be frozen while the big investors are given whatever gold and silver are to be found in the ETF vaults. There will not be enough gold or silver in those vaults to pay off the big investors, much less the little guys, because there are far more paper contracts than physical silver and gold to pay up. Silver is particularly in short supply.
After all the physical supplies have been given to the big investors, everyone else will be told that there is no silver in the vaults, the company is bankrupt, and the little guys are left holding pieces of worthless paper, while the actual price of silver then will hit the moon.
He believes that this will happen within 6 months, and that this will also end the price manipulation of gold and silver.
"Western fractional reserve banking is finished. Look for manipulation end in 6 months."
If you need "junk" silver coins (Pre-'65 quarters, 90% silver), I have found a FANTASTIC source in Texas! Just ask: miketummillo@me.com
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