The Calm Before the Precious Metals Storm
By Steve St. Angelo
Tuesday, 8 October 2013
The financial hurricane hit the world in 2008 destroying huge swaths of assets, real estate valuations, numerous banks and financial institutions. As the storm cleared, the Fed and central banks stepped in by flooding the world with money to supposedly assist in dealing with the damage while providing special programs to rid the banks of debris and garbage clogging up their businesses.
After trillions of dollars of so-called monetary assistance, the financial damage appears to be repaired giving the public a false sense of security that the storm has finally passed. Unfortunately, the world has only dealt with the first part of the storm and is now sitting in the eye of the financial cyclone.
Even though we now have the additional drama from the U.S. Government shutdown, up until recently, the economy has been plugging right along. However, this was a much different story back in 2008 when the public and investors thought the world was coming to an end.