Is The Economic Reset Unfolding as Precious Metals Decouple Physical From Paper?: Nick Barisheff
There is nothing like boots on the ground commentary when the SHTF. We have been witnessing a changing landscape that is unprecedented in history. The way the Wuhan Coronavirus has swept across the globe has been breathtaking to say the least. People from a great many nations on 4 different continents are suffering through a situation that was foisted upon them by China’s lack of care for the human race.
This situation is now, thanks to the leadership of President Trump, being mitigated in the U.S. by swift and decisive action. The flip side of the situation is our economy has been put on lockdown. People are no longer going to work. The wheels of commerce have ground to a halt, not just in the U.S. but around the world. This is going to cause massive economic problems and for those without a plan, well, good luck.
Some of the economic solutions will work about as well as a band-aid being put on an arm that has been cut off at the elbow.
No one knows what is going to happen over the next 4-6 weeks, nor does anyone understand what will happen over the course of the next 6 months. This is where the real problems will set in. If one pays attention to the Dow Jones Industrial Average, it supposedly looks ahead about 6 months, then that time frame looks rather bleak.
What role will precious metals play? What is happening with the precious metals markets during this time of massive upheaval in all markets around the world?
Nick Barisheff, President and CEO of BMG-Group sees precious metals from several different angles. Not only does BMG-Group offer mutual funds, backed by physical metal, they also offer precious metals to retail customers in the form of coins and bars. Nick provides a stable, calm voice in a time when people are on edge. He probably acquired this calm voice from handling gold for the past two decades. As we learned from Alasdair Macleod so many years ago that people are generally happier and have a more relaxed demeanor when they handle a lot of gold.
The markets, on the other hand, are not calm. Gold and silver have been smashed down with a hammer the size of $16 billion paper tigers in one overnight trading session. There are massive delays in shipping of metals and as Mr. Barisheff points out, it’s not that gold and silver are unavailable, it’s that they are not currently for sale – that is a very distinct difference. Why would I sale you an item today for $1 when I paid $5 for it yesterday? Why wouldn’t I tell you I’m not shipping those items and wait for the market to return and cover my cost?
Perfect timing on this show, and it seems like we have a lot to consider over the coming weeks. We pray you and your family are safe and prepared for a bumpy ride.