McAlvany On Cyrpus, Gold and Collectivism

World Economy

David McAlvany, from McAlvany Financial Group discusses the effects the Cypriot Bail-In had on gold, and the paradigm shift coming from collectivism to the individual.  His perspective helps us understand exactly what happened to the worldwide physical precious metals markets after the Cyprus bail-in.

These events are significant and it is imperative you understand the gravity of them. The Cyprus bail-in was just a cough… but lets be clear: the patient, (i.e. the worldwide financial system) has a terminal case of Pneumonia.   It will collapse. When the system coughs, the whole world holds their breath to see if this is the one that wakes up the masses to the realization that it has a very short time to live.

During this time, like in the 2008 GFC we get some clues as to what the collapse will look like.

What do we see?

  • Its impossible to get your hands on physical precious metals at any price.
  • Money in financial institutions is stolen from you while you sleep.
  • Bitcoin was not around in 2008, but in 2013 the price quadrupled in a few weeks during the Cyprus crisis. Gold should do the same, but it is a rigged market and so that quadrupling will not show up until after the system collapses, and derivatives market implodes.
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