"- 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."