The United States Imports Record Amounts Of Gold From Switzerland! Meanwhile, Deutsche Bank Faces Total Collapse by Nathan McDonald, Sprott Money
I have been pointing out for months now that something fishy is going on behind the scenes. It began last month, when I highlighted the fact that the United States had reversed a massive, long-lasting trend of exporting gold, and in fact was beginning to import record amounts of gold from Switzerland. Well, not only has this trend continued, but it has accelerated.
As has been in the breaking news this week, Germany is facing growing pressure to bail out Deutsche Bank as it becomes increasingly apparent that this bank is facing a massive crash and liquidity problems.
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This is becoming a self-fulling prophecy as the CEO of the bank states, pitifully blaming hedge-funds and speculators for much of their woes. It could never have anything to do with the fact that they were, as many other banks are, horribly over-leveraged and lacking reserves.
Adding fuel to the fire, a bank run has begun and customers of the bank are rapidly withdrawing their funds. If you know anything about how disgustingly leveraged and thus vulnerable our modern-day banking institutions are, then you will know that this is the mark of death for any bank and can rapidly destroy the banking institution in question.
If Deutsche Bank goes under, mark my words. We WILL be dealing with a massive spread of contagion that could put the entire banking system around the world at risk.
Perhaps this news was known by many of the elites within the Western world. Could this be the reasoning behind the United States record breaking imports of gold from Switzerland – imports tha,t as we have learned, have grown in size since we first reported on it?
As noted on SRS Rocco, the United States has broken another record in the month of July 2016, in which 23.8 tonnes of gold was brought back into the country.
Compared to countries such as Russia and China, who have been steadily accumulating precious metals, this may not seem like much, but it must be looked at in the proper context. The United States for the past decade has been a monstrous exporter of the yellow metal! So why the change of heart?
I, and many others, believe that perhaps something big is coming. The crash may be closer than we think and the elites might know more than they are willing to share. Hopefully not, but we shall see. Prepare now, or risk losing everything. You’ve been warned – something fishy is afoot.
Nathan McDonald is a libertarian, entrepreneur and precious metals enthusiast. He has always taken a keen interest in free markets and economics since an early age, which naturally led him to become a true believer in precious metals and all that they stand for.
Nathan served eight years in the Royal Canadian Navy as an electronics technician, seeing the true state of the world, before starting his first successful business. He has since gone on to create a number of businesses, all of which are still in operation and growing.
In addition to this, Nathan runs a network of successful precious metals blogs, and a growing newsletter that has attracted readers from all around the world.
He is a regular and highlighted writer for the highly respected Sprott Money Blog, which covers world events, geopolitics and of course precious metals.