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Q: The Greek election is of particular interest to us in Europe (though fortunately for us in the UK, not in the Euro itself) with the potential to see the currency start to unwind. But even the Greek anti-austerity party which looks set to win are saying that they don’t want to leave the Euro, just demand a writing off of loans. Do you think this is just posturing for the electorate (70% of Greeks want to stay in the Euro rather than face the music) and that, once elected, they will leave or be forced to leave, or do you think they really will try to stay in? It seems to me that a huge game of bluff is about to take place and it could come down to who blinks first. What’s your take?

Bill Holter’s Answer:

Simply put, the Greeks do not have the ability to pay their debt off which is now 175% of GDP.  Yes, this “was” a game of chicken and one Brussels had to continue otherwise the truth be known.  Look at Greece now (I assume your question was written before the election), they have run their banks and Tsirpas is already pivoting toward Russia.  The West cannot get blood from a stone unless they “infuse” said stone with new blood.  The Greek people have spoken, please read this article as it truly explains the situation.

The old and untenable status quo has been broken, it is only a matter of time until the world realizes it.  Please read the article, it is long but I believe extremely correct.

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Q: 1) What would have to happen to get the price of Gold (Au) indexed to another currency after the world soured on the Bretton Woods Agreement/Dollar?

Andy Hoffman’s Answer:

Gold is not “indexed” to any currency, including the dollar.  It is priced in all currencies, in all markets – at is is universally understood to be money, and always will be.

2) Is it wise/safe, in your opinion, to (now) take a long position on Gold & Silver Mining Stocks and ETF?

We are not financial advisers, but I have been as vehemently anti mining stocks – and for that matter, all “Paper PM investments” as anyone on the planet, for the past four years.  How could it ever be “safe” to invest in something that has literally destroyed investors for years – if not decades?  We own real metal as savings, not investment.  Mining stocks are for speculation, which you are welcome to do, at your own risk.

2 b) What about ‘leveraged positions’ (X3) in Gold ETF (Au) ?

Based on question 2’s answer, I think you can guess what my answer is.

3) In your opinion, please define what ‘a dollar reset’ means to you? If so … , to the price of Gold (Au)?

It is more of a generalized concept than an actual event, in my view.  I don’t believe decisions are made about valuation by “powers that be” – other than how to try and manipulate prices.  The “global reset” simply mean, in my view, that markets overcome said powers that be’s best efforts to usurp Economic Mother Nature.

4) On a scale of 1 to 10, with 10 being very high, and 1 being very low;  for WW III erupting from the Russia/Ukraine conflict?

Clearly geopolitical tension is surging, and escalation of the Ukrainian conflict a major possibility.

4b) From Middle East tensions?
Ditto.