- Global Markets Now On The Verge Of Total Panic & Meltdown!
On the heels of extraordinary turbulence in key global markets, today 40-year veteran, Robert Fitzwilson, put together another tremendous piece. Fitzwilson, who is founder of The Portola Group, discussed financial meltdown, and what this all means for battered traders and investors in the gold market. Below is Fitzwilson’s outstanding and exclusive piece for KWN.
Fitzwilson: “Friday was an extraordinary day. Stocks and oil posted strong gains while precious metals were sold off. The strength in the stock market was attributed to a positive jobs report, and the rise in the price of oil was associated with the unrest in Egypt. Precious metals hit another air pocket, but the source of the selling was managed money, not from the bullion banks. But what was really significant was the carnage in the bond market…. “We cannot recall a worse one-day selloff in bonds.
For those who are dispirited by the action in the energy and precious metals markets, a true panic out of financial assets into so-called real assets will cause those markets to skyrocket when denominated in fiat currency. Today was a warning that this moment might finally be at hand.”