8 More Reasons Why I am Long Silver!, page-34

Onc thing that has puzzled me Marc, is that the football players are paid millions in those countries. Bread and circuses? One wonders where priorities lie. If they default however, I can see them backing their currencies with precious metals which is also a cultural thing in those countries and not illusory demand. Modern floating currencies are a barter swap of goods and services in the current context IMO. They still have to feed their populations. So I think currencies will be once again re-unitised by precious metals at some near point which I think they have been accumulating at the low end for some time as a future countermeasure. Don't forget the Germans wanted their gold taken back to Germany from the USA. Nothing is certain but what happens when there is nothing left to lose is a big concern when the world appears to becoming infected by polarized isolationist views. Bushfires are everywhere from Brexit to the Middle East and the USA has a huge debt as a consequence of their monetry easing policies. Australia has a huge private debt despite a recent improvement in the terms of trade. People are concerned about Chinese tentacles in the Pacific.