All in time Phase 2 will begin, and capital will flee from the last remaining fiat ‘safe-haven’ to the true safe havens of gold and silver.
Here is a monthly chart of the US 30-year Treasury bond and the pattern is very clear. The flight-to-quality is not yet over. I have been warning gold was not ready yet for prime-time. Here we are on the edge of Europe being torn apart at the seams, socialists taking control of the battlements, inflation appearing likely, yet gold retreats. Phase ONE of a Sovereign Debt Crisis is international capital flight-to-quality from one currency to the next. I have warned that the USA would be last to go – not first!
Some people will never admit a mistake. No matter what I say, they just will not believe me. I have received emails from some nasty gold fanatics saying the government is right for whenever I put out a report saying gold will decline – it does. When I go to Capitol Hill, I am introduced as “this is the guy with the model they are trying to suppress!” Now I am fighting in court because they refuse to issue me a passport. Why? There are “other issues!” No explanation of course just denial of free speech.
I have warned that the United States would be last to fall because it is the core economy being both the largest as well as the reserve currency. I have warned that this will not collapse into dust all at the same time. Each link will break one at a time cascading like dominos. This is not my OPINION – it is history!
Read more of Martin Armstrong - say what you will about Dr. Armstrong, but above all else you'll have a clear head and feet on the ground after reading. This issue has an excellent presentation of Roman silver coinage.
Source: SilverDoctors
