from Reluctant Preppers
lass=”” >Head of Research at GoldMoney.com, Alasdair Macleod, returns to Reluctant Preppers to give us a British insider awareness on the fallout and future after the Brexit vote, and what it signals for gold bullion- and how you can use BitGold to capitalize on the volatility ahead!
What Does the Brexit Vote reveal about the British people?
What are the most probable series of events coming following the Brexit vote? Will Brexit be thwarted? Will Britain be punished – by EU, US, … Will other nations follow? Will the Euro fail? .. and take other fiat currencies down with it?
Gold availability and pricing pressures following Brexit?
Gold Storage overseas: security, accessibility, import/export, regions?
BitGold: How can you use it to gain an advantage no matter which was prices go?
IN THIS INTERVIEW:
What Does the Brexit Vote reveal about the British people? Worry that remaining in the EU Britains would lose control over their own borders, and would have less and less say over their own leadership & sovereignty. UK treasury was determined to frighten the Britains into remaining in the EU. Distorted Treasury models and flawed assumptions “a Dodgy Dossier”, as flawed as WMD “intelligence” to instigate the Iraq war.
What are the most probable series of events coming following the Brexit vote?
– Markets recovered No signs of increased recession If anything, businesses are resuming after hold from Brexit uncertainty
Fallout from the Brexit?
– Haven’t withdrawn from business, still there.
– Socialism will be Greece, Italy, Portugal so burdened with debt they are “zombie” businesses ECB will throw money at the problem Non-performing loans 20% of “GDP” but 40% of true private business GDP No sign EU willing to let bust businesses really go bust Ultimate banking crisis will hit the Euro
Gold Availability and pricing in Britain following Brexit? Gold surged 20% in Britain, Japanese Yen strengthening vs. negative interest rates, gold relatively flat, but better than tiny yields available. Japanese demand for physical bullion is not on anyone’s radar, but will strain market availability when it emerges. Gold from UAE (stocked up on African Gold) shifting to Swiss refiners. Slowdown in Demand from China, India, Middle East countered by physical ETFs in London
Gold Storage overseas – security, accessibility, import/export, regions? If you store gold in the country where you live, US worries the government may seize your gold. Foreign storage: domestic govt has less control over the issue Regions: Local law on property rights: Swiss strong property laws, English Law for property rights (Singapore) Government property grab? US Govt unlikely to act alone, but also lean on Brits, French German to do the same. If store in Dubai, Arabs will not go along. Hong Kong (China) would be unlikely to follow the US Government. Gold customs restrictions: mega-rich have made themselves as stateless as possible. Live, do business and store their wealth in separate jurisdictions.
Where is gold going next? High speculator interest developed on the buy side (COMEX) Bullion banks are short, stand to lose a lot if prices continue up from here. Historically, billion banks win most of the time, are “too big to fail”, backed up by governments in a pinch Continued strong investment demand for gold, but physical gold not a regulated investment: Fund managers faced with wither buying ETFs like GLD, or futures market and roll forward. This new factor may
BitGold An account, instead of being owed to you by a bank, it’s your gold money held in escrow held in a fully insured vault. Pre-load an ordinary debit card with BitGold value, use it in any ATM or point of sale. When gold is up, use BitGold card – when currency up, use your traditional card.
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