Is a Gold backed Italian Lira coming? We still think so!steemCreated with Sketch.

in investing •  12 days ago

   Great and Wonderful Monday Morning Folks,    

        Gold is higher after a restful weekend in the states with the trade at $1,302 (June) , up $6.40 and right beside the high at $1,302.30 with the low at $1,295.50. Silver is totally held back with its trade at $15.14, up 5.4 cents with the high at $15.16 and the low at $15.075. The US Dollar is down this morning, but the charts point to higher climb in the long run, with the value pegged at 96.805, down 19.7 points and close to the low at 96.765 with the high at 97.02. All this of course was done way before 5 am pst and the Comex Open. The Venezuelan currency now has Gold pegged at 13,003.73 Bolivar, a huge 104.87 gain since Friday’s post with Silver gaining only .55 Bolivar at 151.211.     

      April Deliveries for Silver have stopped for some reason with the demand count still stuck at 75 requests for physical with Zero Volume up on the board so far this morning and since last week’s Wednesday count. Silver’s Overall Open Interest shows a slight drop from Friday’s increase with the count losing 149 Obligations totaling 204,897 Overnighters as we wait for the delayed data to be updated.

      Europe still seems to be a mess these days as the Yellow Vests protestors are still out and about in France, starting its 22 consecutive week of tax payer’s revolts with Immigration Issues abounding in Greece as fake news sets up another riot. Then Italy says it right! Gold ".. Belongs To The People, Not The Bankers" - Italy Moves To Seize Gold From the Central Bank. We’re pretty sure the ECB is not too happy about this at all, since they have to make statements surrounding the precious metals subject all the while court cases are everywhere surrounding how the precious metals have been eased into these cheap prices via paper receipts that seem to disappear into the City of Chaos where it seems they are trying to disappear the Brexit Vote as well.      

      At the very least, Italy is still stepping towards its own sovereignty by making these statements. If they own the gold, they have their own currency whenever they want it. The bottom line in our thinking is, Italy’s actions are still proving the points we have been making for a while, Italeave is happening and so is the Italian Lira! We believe the ECB debt mess has become too much to control, proving in time, sharply higher prices will occur in Silver and Gold under the major currencies, which is why we strongly suggest owning and physically holding as much as you are comfortable with. Keep that smile on your face and that positive attitude in your mind, and as always …   

Stay String! 

J. Johnson  

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