BRICS

China raised its gold reserves for a ninth straight month in July. Bullion held by the People’s Bank of China rose by 740,000 troy ounces, the central bank said on Monday.

The financial system should have been allowed to collapse 15 years ago when the problem was 1/3 of today. But governments and central bankers prefer to postpone the inevitable and thus passing the batten to their successors thereby exacerbating the problem.

In the United States, public finances continue to deteriorate. Faced with a weak currency, Japan's central bank is forced to let rates rise. The price of gold in yen broke an all-time record, amid complete media indifference.

The price of gold has rallied in recent days. Not only is the battle against inflation far from won, but the risk of a monetary policy error is also increasing.

Since the introduction of measures enabling banks not to bear bond losses on their balance sheets, the markets have not recorded the slightest correction. We have just witnessed six months of spectacular gains. It's as if the Fed had assured the markets that it would not hesitate to intervene at...

Will the world experience a catastrophic debt implosion? Just like the Titan Submersible that recently imploded, the global debt bubble can implode “within just a fraction of a millisecond”.

Not only does the US government have to cope with higher loan repayments due to rising rates, but it also has to support an economy that has been amputated by a growing number of consumers who no longer have access to credit due to prohibitive rates.

On Friday, the Russian state-controlled channel RT confirmed that Brazil, Russia, India, China and South Africa, also known as the BRICS countries, will introduce a new trading currency backed by gold.

The US economy continues to send very mixed signals. The number of bankruptcies in the US has risen sharply in recent weeks. Gold prices should have fallen further with weakening Chinese demand and the dollar's Olympic form.

The time has now come for the 99.5% of financial assets which are not invested in gold, silver or precious metals mining stocks to grab both the investment and wealth preservation opportunity of a life time.