This is a graphic picture of what happens to currency as it inflates to infinity and the corresponding graph of gold during that multiplication. Actually, it is a normal result of 2 things; first is the flood of money injected into the market and then the flight from the currency.
The problem is that the dollars have no purchasing power, so then there is a freak out and the market crashes. But this is what happens to gold.
Please see the following link that lists the names of the institutions that received bail out and TARP funds: http://projects.propublica.org/bailout/list. There is also an organisation named Veribanc that provides a ratings service for all US banks and credit unions in the US. Its website is veribanc.com.
The Singapore Precious Metals Exchange (SGPMX) is able to offer fully allocated storage of your bullion or coins if your intent is to ship it to them or alternatively it does offer a range of precious metals products that you can purchase from them and store in allocated form in Singapore. The maximum deposit on the initial opening of the account may be limited to US$100,000 but after that transaction has been made there are no such limits. If you wish to contact the SGPMX the contact is Victor Foo ([email protected]).
As you know Jim has advised that we should all exit the Western financial system and his preferred destination is Singapore. Jim has further advised that if you wish to have a domestic storage option in the US that you should contact the CNT Depository. The contact details are:
Waiting in line this morning for the honor of paying my quarterly property taxes. Sweet, neatly dressed, polite older woman in front of me. Hadn’t paid in 2 quarters, she was wrestling with finding enough to pay taxes due 6 months ago plus accrued interest. When all was said and done she paid "most" of the 6 month old tax bill plus interest but couldn’t pay anything towards the current due amount.
So sad and evident of what is happening, yet we get more propaganda and taper talk today. Older folks are being wiped out.
Keep up the fight!
All the best,
CIGA Vic P. and the Golden Lab