“Gold hit a three-month high of $1260 at the end of business day on Thursday, Feb. 23, as a steady flow of safe-haven demand from traders and investors continued worldwide while Bitcoin topped $1170 around the same time. Civic CEO Vinny Lingham, gives Bitcoin about a month or less to consolidate its price in the $1300 range”
“There is something seriously wrong taking place in the markets today. This is also true in the paper gold and silver markets as well. For a paper precious metals futures market to function properly, there has to be ample supplies of physical metal. However, the ongoing trend of falling precious metal inventories points to big trouble in the paper gold and silver markets”
“The drain of Registered Silver inventories began in earnest. Now the number of owners per ounce of Registered (Deliverable) is heading towards the 30 figure. .. it has never been this high in more than ten years”
– Bitcoin is up 50%+ , Silver up 40%+ , Gold up 8%+
“Silver just exploded above $21 – up almost 8% – its biggest single day surge since September 2013. Silver is limit up on SHFE as Gold is also surging back towards Brexit highs near $1360… China’s CFETS Renminbi basket just hit a record low”
“Money managers have been piling in on demand for havens and speculation that interest rates will stay low as central bankers around the world struggle to contain the economic fallout from the U.K.’s vote to quit the European Union”
[Editors note: The writing is on the wall as the war on cash goes global; with latest news that the ECB has voted to scrap €500 bills which amounts to 30% of all physical cash in the eurozone area.
For central and retail banks, the ability to prevent large scale capital flight when implementing negative rates will be essential to prevent/delay insolvency on leveraged balance sheets, as the bankers try to ‘kick the failed monetary policy can’ one more time.
All of these actions continue to add to the strengthening fundamentals of owning alternative money and currencies, such as precious metals and Bitcoin, that do not carry these counterparty risks.]
Check out this article from trunews.com which documents just how global the war on cash has become: Read more here…