Gold May Be Losing Traditional Role in Diversified Portfolio

"Conventional wisdom has it that you should devote a small portion of your portfolio to gold, which should maintain its value or appreciate in times of turmoil for financial markets.

But that relationship has broken down recently. While markets have been roiled by debt crises in Greece and Puerto Rico and by a plunge in Chinese stocks, the precious metal has dropped to a five-year low, trading at $1,085.40 an ounce late Tuesday."

Australia pushes to recognize bitcoin as regular currency

"The Australian government on Tuesday suggested treating bitcoin and other digital currencies on a par with standard money in the country. The move comes in contrast to an earlier position towards digital currencies as "intangible assets.""

Germany Replacing Bank Cards and Eliminating Cash Withdrawals

"The game is afoot to eliminate CASH. According to reliable sources, Maestro is seriously under attack. In Germany, Maestro was a multi-national debit card service owned by MasterCard and founded in 1992. Maestro cards obtained from associate banks and can be linked to the cardholder’s current account, or they can be used as prepaid cards. Already we see the cancellation of such cards and the issuing of new debit cards. Why? The new cards cannot be used at an ATM outside of Germany to obtain cash. Any attempt to get cash can only be an advance on a credit card."

Greece Shows Importance of Gold as Europeans Buy Coins and Bars

"- Demand for physical gold from Europeans surges
- Greek ATMs limit withdrawals to €60 per day
- Greeks panic buy food, fuel and medicine
- European elites threaten Greece with expulsion
- Gold not subject to capital controls or “bail-ins”

What happens next in Greece is unsure. What is assured is the insurance gold will provide going forward. Physical gold, held outside the banking system, is not subject to capital controls.

Should the Greek crisis morph into a full-scale euro-crisis – if, for example, Credit Default Swaps were triggered which provoke a derivatives crunch – gold and silver would still enable you to secure life’s necessities if the value of one’s cash savings should collapse.

The euro, like all paper and digital currencies, is backed by nothing more than the faith in the institution that issues it. Faith in central banks is rapidly evaporating."

50-Year Veteran – Greek Deal Is BS And People In Greece Are Pissed Off

"Essentially the central banks are monetizing the debt markets, and in doing so they have created the largest bubble in world history….

This bubble will undermine the entire Ponzi scheme they call the global financial system when people realize these bonds aren’t worth a fraction of what they are trading for.

Either Way This Will End In Collapse

The problem is that all of this is unsustainable.  One of two outcomes is certain because of the excess debt we now face in the system:  Either we will see a hard deflationary debt collapse, which will make the 1930s look like a walk in the park, or a hyperinflation — triggered by central bank printing to counteract the deflationary threat."

Ignoring Tsipras Plea For Calm, Greeks Storm ATMs, Stores, Gas Stations

"Just a few hours ago Greek PM Tsipras addressed his nation imploring then to "remain calm" and reassuring them that their "deposits were safe." It appears the Greeks did not believe him. Many were wondering where the Greek bank lines were for the past several months. Turns out the local depositors were merely waiting until just after the last minute to withdraw their funds... horde gas... and stack food. Greece, it appears is Venezuela - the new socialist paradise."

BANKING CARTELS’ REAL ENEMY: Physical Silver Investment Demand

"While gold is a main focus of the Central Bank market rigging apparatus, physical silver investment demand is their real enemy.  The reason is simple.  Central Banks have gold in their vaults to dump on the market (or to lease) to control the price, but they have very little if any silver for this purpose.

We must remember, Gold and Silver go hand in hand.  If one is controlled, so must the other.  If the price of silver got out of hand and skyrocketed higher, for whatever reason, it would impact the price of gold as well."

CANADA: Outrage boils over as B.C. government plans to sell groundwater for $2.25 per million litres

"More than 82,000 people have signed a petition against the government’s plans to sell B.C.’s (province of British Columbia) water for $2.25 per million litres.

“It is outrageous,” says the online petition from, that corporations can buy water “for next to nothing.”

B.C.’s Water Sustainability Act (WSA), which comes into effect next January and replaces the province’s century-old water legislation, has been heralded as a major step forward. But politicians and experts are raising doubts over whether the newly announced water fees may be too low to cover the cost of the program, asking if the act simply won’t be implemented properly, or if taxpayers could end up picking up the bill."