Hungary’s Gold Repatriation Further Destabilize the US Dollar
This follows several other European countries choosing to take delivery of their gold to avoid the current fraud that exists in the petro dollar and the London Gold Fix. As we have already established on this website, paper certificates of gold are sold 4x what exists as their underlying asset- physical gold. Therefore, logically you would not want to be the last one to the party to reclaim the gold that the bullion banks have been holding and claims exists.
This comes on the heels of Treasury Secretary Mnuchin in the United States peeking into the famous Ft Knox gold reserves of the nation, while giving the thumbs up suspiciously to reassure the rest of the world that all is well and ok. So far Germany, the Netherlands, and Russia have all made good on the delivery of their gold so that they will have “gold you can hold” as the Western fiat and debt based economic and monetary systems dwindle, and the US stock market sees new lows as the dead cat bounces past its 9 lives all the way down in a worse repeat of 2008.
The London Gold Fix Cannot Last Forever
It’s interesting to note that the Hungarian central bank is choosing to collect its stored gold from the Bank of England where there is not enough physical gold to meet demand in the event everyone who owned paper gold demanded delivery.
While Hungary does not have a lot of gold, this is starting to turn into a trend for countries to be on the right side of the next economic reset. Hungary has become a thorn in the EU’s side as it has chosen to go its own path in how it enforces immigration and bucking the EU-required amount of “refugees” mostly from the middle east. Maybe this is Hungary’s way of striking back against the New World Order and a way to secure its future outside of the paper money system.
Precious Metals Could See Another Bull Run Soon
Considering how long gold and silver have hovered at their current support levels for the last 3 years without losing much of their gains, we believe that metals are simply waiting for their breakout moment to continue their upward trajectory starting back in the 1970’s when the US dollar was removed from the gold standard.
Once you decide to have gold protecting your retirement account, you’ll sleep better at night knowing you did something to protect your future in the midst of insolvent countries, pension funds, and government issued paper currency.