IT'S OFFICIAL: EUROZONE FALLING APART, GERMAN GOLD, RUSSIA GOLD AND COMEX DUMP.

Transcript : let's get right into this morning's 0:24 headlines today we're going to talk 0:26 about the closest the euro has ever come 0:29 to resolving we're going to talk about 0:32 the reason some of the things are 0:34 happening in the gold market as it 0:36 relates that in my opinion and we'll see 0:40 what happens a lot of material to cover 0:41 a lot of news is going to be 0:43 exceptionally boring so buckle up and 0:47 grab what you need because we're about 0:50 to get boring here looking at silver 0:52 prices this morning they looked like 0:54 they were down taking gold was actually 0:56 down a little bit just a fraction but 0:58 then all the sudden it just popped and 1:02 you can see it right there in that chart 1:04 silver just known vertical this morning 1:07 it was up about twenty cents when i 1:09 checked it like 1790 it's just really 1:12 close to hitting at $18 and out so 1:15 silver performing there looking at what 1:20 would it cost a country to leave the 1:23 euro that's what everyone suddenly wants 1:25 to know this is a very interesting 1:26 article and we're going to get into 1:28 we're going to read a lot of it 1:30 so what would it cost the country to 1:32 leave the euro that's what everyone 1:34 suddenly wants to know it's the closest 1:37 the eurozone has come to falling apart 1:39 marine lepen the leader of the National 1:42 Front will get enough votes in April 1:44 during the first round of the French 1:46 presidential election that will be 1:48 defeated in the second round run-off in 1:50 may according to the polls now we all 1:53 know how good poles are so at least 1:55 hopes the French political class and the 1:58 extension the European establishment 2:01 they're hoping the pen would be defeated 2:04 because she is campaigning on taking 2:06 France out of the euro after holding a 2:09 referendum and read the nominating the 2:11 entire 2.4 trillion euro pile of french 2:16 government debt into the new Frank then 2:19 the government can just print the money 2:21 it wants to spend there are some 2:24 complications with her plan including 2:26 that the diverse and bickering French 2:29 political class will unite into a slick 2:31 monolithic block 2:33 against her during the second round and 2:36 if she still wins her government will 2:38 face that block in Parliament but hey 2:42 and now people are seriously thinking 2:44 about it 2:45 Greece was on the verge of leaving the 2:47 euro but then within a millimeter of 2:50 actually taking the step it blinked and 2:52 inched back from the precipice in the 2:55 hot summer of 2015 and so for now 2:59 still no one knows what the cost would 3:02 be to leave they can only grapple with 3:06 the cost of staying in Italy the five 3:08 star movement which has been gaining 3:10 momentum is making noises about a 3:13 referendum on your own membership Italy 3:15 has a special set of problems it wants 3:18 to bail out its banks but doesn't have 3:20 the money to do it and it needs to 3:22 devalue its currency as it had done so 3:25 many times before join the euro but has 3:28 no currency it can devalue one thing is 3:31 clear if a country leaves the euro and 3:34 values its new currency it practically 3:37 must-read nominate all of its existing 3:40 government debt into the new currency 3:42 because it would be impossible to 3:45 service the euro debt with the devalued 3:47 new currency the ratings agencies with 3:51 their eyes on those eurobonds have 3:53 already spoken up more its Kramer SNP's 3:57 head of sovereign ratings wrote in a 3:59 letter published in The Economist on 4:01 februari for that loop ends plan to read 4:04 denominating French debt into new 4:07 Frank's would constitute a sovereign 4:09 default there is no ambiguity here it 4:12 would if an issuer does not adhere to 4:15 the contractual obligations to its 4:17 creditors including payment in the 4:19 currency stipulated S&P global ratings 4:22 would declare default our current AAA 4:25 rating on France suggest however that 4:28 such a turn of events is highly unlikely 4:31 now European Central Bank President 4:34 Mario Draghi is stumbling into the fray 4:37 quote the euro is irrevocable unquote he 4:41 told the european parliament on monday 4:43 to counter the populace rejection 4:46 of the euro this is the treaty he said 4:49 and that question has already been 4:51 raised officially on january 18 Draghi 4:54 sent a letter to European Union 4:57 lawmakers Marco valley and marcos ani 4:59 telling them if a country were to leave 5:02 the Euro system its national central 5:05 bank's claims on or liabilities to the 5:08 ECB would need to be settled in full 5:12 that was the opening that if quote if a 5:17 country were to leave unquote it meant 5:21 that a country could leave it was the 5:23 first official admission that this was 5:26 actually possible 5:28 it was just a matter of cost that's 5:30 house on Esau druggies response 5:33 Bloomberg quote I wanted to bring up the 5:36 issue of exit from the euro and how it 5:40 can happen unquote he said in an 5:42 interview before the testimony quote 5:44 Draghi has now clearly admitted that 5:47 such an exit is possible and now there 5:50 is need to have more clarity about the 5:53 cost 5:54 I'm sure that in case of Italy's exit 5:57 from the euro benefits exceed costs 6:00 unquote whatever the ultimate cost of 6:03 leaving the euro they may be greatest 6:06 for the holders of affected euro debt 6:08 for the eurozone second and third 6:11 largest economies it has come down to 6:13 just doing the math and making a 6:15 decision that's the closest the eurozone 6:18 has ever come to falling apart bonds are 6:22 already falling yields horizon and nerve 6:26 is dying so very interesting situation 6:31 taking place and unfolding over there in 6:33 europe and i believe this is one of the 6:36 reasons Germany hasten that the return 6:38 of their gold we covered this story 6:41 yesterday we've covered it in the past 6:43 it's worth just touching on again as it 6:45 relates to this eurozone situation 6:48 Germans sent gold away to keep it from 6:50 the Soviets now much of it is back just 6:54 quick side note on this photograph very 6:56 interesting and how they are spent 6:59 thanks so much testing and confirming 7:01 the authenticity of their gold bars you 7:04 can see the gold laid out on the table 7:06 there and it looks like there's a small 7:09 hammer or something maybe some of you 7:11 can identify the device next to the 7:13 gentleman on our right hand side there 7:16 you look next to his left hand there's a 7:18 device looks like a hammer and then 7:20 there's obviously a syringe full of i'm 7:22 assuming an acid some type of a solution 7:24 to determine the purity or the 7:27 authenticity of the gold and then 7:29 there's another device sitting on top of 7:31 the bar also measures and can determine 7:34 the authenticity of these gold bars so a 7:38 lot of effort lot of time being spent 7:40 their to confirm the delivery of real 7:43 gold also just another side note here 7:46 and it was 6.9 million sounds like 6.9 7:50 million dollars 7:51 I Germany has spent so far in shipping 7:54 and reclaiming their gold one more bit 7:56 of information on that situation German 7:58 central bank to remove all of its gold 8:00 from France this year the booze bank has 8:03 been moving its physical gold reserves 8:05 around the world back to Frankfurt this 8:07 is not news the program was announced 8:09 for years back and it's been in progress 8:10 since the wall street journal reports 8:12 that bonds Bank board member karl would 8:14 feel has said the bank will achieve its 8:17 transfer goals for Paris this year 8:18 leaving no German gold reserves stored 8:21 in France now could that have something 8:24 to do with France's potential 8:26 withdrawing from the EU and a separation 8:29 taking place there are some very 8:31 interesting moving pieces right now 8:33 ladies and gentlemen things are 8:35 happening behind closed doors while most 8:38 Americans are watching reality TV and 8:41 discussing sports events the world 8:45 around them is shifting with economic 8:48 plate tectonics gold-buying Russia to 8:51 intensify diversification on Trump 8:54 unpredictability as you all know Russia 8:58 is a big buyer and gold as you can see 9:00 here 9:01 Russia's massive and increasing gold 9:03 bullion reserves are kept in tightly 9:05 guarded locations across Russia to the 9:07 fear of sanctions and the 9:09 unpredictability of Donald Trump 9:11 ready to the Sun Russia beyond the 9:13 headlines Russia increased their gold 9:16 reserves by a very large 100 99.1 tons 9:20 in 2016 9:22 this was the eighth consecutive year of 9:25 gold diversification due to concerns 9:27 about the dollar and currency wars we've 9:31 talked about that in the past as well 9:33 from the Sun Russia is hedging its bets 9:35 with the stock pile of gold due to 9:38 Donald Trump's unpredictable nature the 9:40 hoard has seen Russia become one of the 9:43 world's leading gold buyers a stamp that 9:46 it hopes will protect it from any 9:48 drastic changes that the new US 9:50 president might have on the world 9:52 economy 9:53 almost two-thirds of the nation's gold 9:55 is kept in moscow in the central bank 9:58 repository the location of the gold 10:01 mainly in bullion weighing from 100 10:04 grams 214 kilograms as a highly guarded 10:07 secret but the country leader Vladimir 10:11 Putin has inspected one of the storage 10:13 sites with Prime Minister Dmitry 10:16 Medvedev also having carrying out visits 10:18 russian central bank has previously 10:21 declared that gold was a one hundred 10:23 percent guarantee from legal and 10:26 political risks making it worth the risk 10:29 of a swinging price gold isn't done 10:33 climbing says precious metals investing 10:36 for dummies author palm lat genetic says 10:40 I believe that it will be a great year 10:42 for precious metals there's an entire 10:45 article where he's interviewed 10:46 discussing that situation 10:49 11.1 tons of paper gold dumped and 10:53 60-seconds this is an interesting 10:55 article by Dave kranzler central bank 10:58 stand ready to lease gold and increasing 11:00 quantities should the price rise alan 11:03 greenspan 1998 and congressional 11:04 testimony on OTC derivatives here the 11:07 author of the article shows a chart and 11:09 discusses and his situation took place 11:12 the other day the banks must feel 11:13 threatened by the recent activity both 11:15 physical and paper gold trading this 11:17 morning the price of gold was attacked 11:19 in the comics paper market after st. 11:21 Louis Fed head 11:22 James Bullard delivered remarks about 11:24 interest rate policy that should have 11:26 propelled the price of gold higher what 11:29 we think the low safe real rate regime 11:32 is unlikely to change in the near term 11:35 this means the policy rate can also 11:37 remain relatively low over the forecast 11:39 horizon 11:41 instead the comics was bombed with paper 11:43 and there you can see the price of gold 11:46 plummet in the chart no news other than 11:49 bullets goals from the remarks about 11:51 interest rate policy and they pull the 11:54 rug out from hundred at 954 am an 11:58 estimated 3927 April gold futures 12:02 contracts paper gold was dropped on the 12:06 comics prior to this the average number 12:08 of contract per minute since the comics 12:10 it open with under 500 contracts this is 12:13 11.1 tons of paper gold which hit the 12:16 comics trading floor and electronic 12:19 trading system in a 60-second window it 12:22 represents approximately thirty percent 12:24 of the total amount of gold the comics 12:27 vol operators are reporting to be 12:29 available for delivery under comics 12:32 contracts dumped in paper form in one 12:35 minute 12:36 this reeks of fear the western central 12:38 banks have grossly underestimated the 12:40 eastern hemisphere uptight for 12:42 physically deliverable gold despite an 12:45 attempt by the key is to mute India's 12:49 demand by restricting the availability 12:52 of cash in India's banking system 12:54 india's current demand is robust and 12:57 will likely increase as Indians now have 13:00 cause to fear the Indian government's 13:02 war on cash in addition of China's 13:04 demand for gold seems to be accelerating 13:06 based on swiss export numbers a hundred 13:09 and fifty eight tons of gold was shipped 13:11 to china in December far higher than the 13:14 numbers represented by a quote official 13:17 organizations tracking Gold flows 13:19 current premiums to the global market 13:22 price of gold on the shanghai gold 13:24 exchange are running in the low teens so 13:27 far this week 13:28 well over 100 tons of gold have been 13:31 delivered onto the sde except for the 13:34 people's bank of china all gold 13:37 distributed inside China must first pass 13:39 through the shanghai gold exchange we've 13:42 talked about that at length here the 13:45 western central banks will have a 13:46 problem if the price of gold begins to 13:49 take off as they will lose control of 13:52 their ability to control the price using 13:54 derivatives perhaps in addition to the 13:57 standard price containment operation on 13:59 the comics this morning the attack on 14:01 the price of gold in the paper market 14:03 was in response to eric's brats comments 14:06 on King world news yesterday quote 14:08 there's no doubt about it if they 14:10 investors keep coming in and buying that 14:13 kind of tonnage at some point they will 14:16 look inside at what little gold is left 14:18 in the Western vaults and say no mas 14:21 we can't keep doing this at the rate 14:24 that they are buying tonnage because we 14:27 will run out of gold and if they see 14:29 that they are going to run out of gold 14:31 in a year or so when do they raise the 14:34 white flag 14:35 I have told you many times that the 14:37 western central banks have been making 14:39 up for the imbalance in terms of supply 14:43 and demand by dis hoarding their gold 14:45 hoard surreptitiously lot of interesting 14:50 articles they're all of them within the 14:52 last day or two breaking we're looking 14:55 at in summary a dissolving euro we're 14:58 looking at sovereign debt crisis we're 15:00 looking at Russia hoarding gold 15:02 dishonesty in the gold market itself all 15:06 this in my opinion points to a future in 15:09 which we are going to see a potential 15:11 explosion an explosion in the price of 15:15 gold keep stacking thanks for being part 15:18 of this genius multi broadcast this is 15:20 most likely one of the most important 15:21 videos on the gold price for this year 15:24 so please like smash that thumbs up 15:26 button share the video with your friends 15:28 and be sure to subscribe if you're not 15:31 doing so already thanks