Greek Contagion Abyss Looms – Wealth Preservation Strategies

• Greek Contagion Abyss Looms – Wealth Preservation Strategies
  by Mark O’Byrne, http://www.goldcore.com/us/
  * Greece, EU and Banks Staring Into Abyss
  * Markets Are “Irrationally Exuberant” – Gods Punish Hubris
  * “Invisible Hand” Propping Up Sanguine Markets
  * Short Term Considerations
  * Long Term Considerations
  * Best Case Outcomes
  * Worst Case Outcomes
  * Wealth Preservation Strategies
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  We are here, staring into the abyss. The greatest monetary experiment of the modern world – the euro, encapsulating the largest middle class market of consumers ever assembled is about to face its greatest test to date.
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  To say anxieties are high is an understatement. Normally the broad markets will weigh up downside risk as the markets formulate and assimilate varying views on matters of importance, but not so in this case.
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  The markets are decidedly sanguine, as if an “invisible hand” is propping them up, guiding them, nudging them, buying any dips in stock and bond markets and maintaining calm.
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  The VIX measure of U.S. stock volatility, is languishing at 15 – not even whimpering. Gold, that other key barometer of risk, has only seen slight gains and languishes at $1,200 per ounce.
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  It is as if the fire alarms have been turned off despite the fire beginning to rage. Is the Working Group on Financial Markets or Plunge Protection Team (PPT) working tirelessly through proxy Wall street banks to keep gold depressed and prop up leading benchmarks such as the S&P 500 and thus the wider markets?
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  There are many that believe that Wall Street banks and central banks work closely together and coordinate policy and market interventions. They are sometimes dismissed as “conspiracy theorists.” Despite much evidence showing that banks have manipulated and rigged markets frequently.
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  Ironically, those that dismiss this as conspiracy theory are the same people who would say that if the central banks and governments are not propping up and intervening in markets, they should be.
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  If central banks are not already “market makers of last resort”then it seems likely that they soon will be and indeed overnight the IMF has called for this.
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  Such interventions simply paper over the cracks for a period of time – meanwhile the fire is burning, the structure is crumbling and will ultimately collapse.
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