The Gold (and Silver) Volcano Is Ready to Erupt
David H. Smith
GoldSeek.com
Tuesday, 25 June 2019
In March 1980, the University of Washington installed a seismograph system designed to monitor earthquake activity in the Cascades, with a focus on increased seismic activity around Mount St. Helens.
Starting just a few days later, a series of earthquakes, small eruptions, and steam releases took place. Near the end of the month, the peak of the mountain started to open up.
But this was only the beginning. For the next six weeks, small eruptions alternated with intermittent quiet periods. But beneath the surface, liquid magma was forcing its way upward, creating intense pressure.
News wires in Washington State reported on these changes, but few people – including scores who would later be killed – paid much attention.
As reported in LiveScience, even the USGS position at the time was that “The changes to the bulging mountain were consistent with what had been reported several times daily since the watch began and left no indication of what was about to happen.”
Then on May 18, a lateral blast involving a release of pressure over the magma chamber created “a glowing superheated cloud of gas and debris moving at nearly supersonic speeds” leaving an eight-mile path of destruction.
A second, vertical explosion at the summit took off the top thousand feet of the mountain, killing 57 people and scattering ash over seven states.
Pressure Is Building Inside the Gold (and Silver) “Volcano”
The Mount St. Helens explosion offers a fitting metaphor for the pressures building in the gold and silvermarkets.
Tremors are intensifying around the globe due to the massive overprinting of fiat currencies, creating debt levels without historical precedent. Financial “earthquakes” are taking place as we speak in Venezuela, Argentina, parts of the Middle East and Africa. Yet most people – especially in the West – are simply not paying attention.
Yearly gold acquisition by four countries alone – China, India, Russia, and Turkey – now exceeds annual global production. Central banks are vaulting gold at the fastest pace in decades.
Falling gold reserves of major producers have declined 26% since 2012. Gold (and silver) yields during the last few years have plummeted on the order of 50%, with discoveries of new projects headed in the same direction. The time frame from discovery to production is moving off the charts. Derivatives have been written dwarfing the total amount of precious metals ever produced in history.
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