As the price of gold hit an all-time high today, a KWN reader out of England sent King World News a fascinating email. He is a gold dealer/pawnbroker in England and what he had to say will surprise people across the globe.
“We Haven’t Seen This In 23 Years”
July 27 (King World News) – Fascinating email from a KWN reader out of England: “I’ll keep it short. We are pawnbrokers in Milton Keynes, England, and we love your site. We have noticed on the ground level that people are still selling their gold as their money runs out. But loans are not needed as much generally because people are not spending as much. We haven’t seen this in 23 years. People always need money. So what we think is happening now is that people are hoarding cash and spending less. The ones in trouble come to us. But it’s about to get worse as the people lose their jobs. It’s not looking good out there on the high street either.
“There Are No Jobs For People To Go Too”
We also noticed that half our loan book has been redeemed by our customers. This would suggest that our customers have extra cash on hand right now as we just don’t think they have any place to spend it or don’t want to waste the money. But as England is easing lockdown, we are seeing people begin to fall through the cracks of furlough. A lot of our customers don’t get much if any government support or it is just not enough to make their monthly budget. When furlough ends and redundancy soars, there are no jobs for people to go too…
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Banks And Governments Have Hidden Things From Us
The banks and governments have hidden things from us all. My take on it is it’s like being at a magic show where the government shows us a version of the problem with their solution, which for us is the shiny object (distraction) in the room. However, in the back of the room the money monster is lurking, taking our wallets without us noticing it. And that is likened to the banking system being taken down (collapsing). They have to push money into the system as fast as they can to prevent bills from not being paid (in order to keep the financial system from totally imploding).
It May Be The Wildest, Unpredictable Ride In Global Financial Markets
I don’t have any answers except everyone needs to get back to work as fast they can, but it’s not looking very promising in the next 6 months. So it may be the wildest, unpredictable ride we see in global financial markets (in the next 6 months). This might mean that our pawnbroking shop may be the business to be in as assets will need to be sold fast. Anyway, just a note from a gold pawnbroker on the street. King World News note: The type of chaos in global markets that will be caused from a banking crisis and continued economic deterioration that the KWN reader describes in his email is just more bullish fuel to turbocharge the gold and silver bull markets, which seem to be kicking into high gear. Gold has already hit an all-time high, which was set in 2011. Silver will eventually break its all-time high of $50 and trade well into triple digits before this secular bull market eventually ends in a mania.
Legend Pierre Lassonde gave an an incredibly powerful interview to King World News discussing where the gold market, gold industry, and mining stocks are headed, and what he had to say will surprise a lot of people around the world. To find out why legend Pierre Lassonde says the upside on gold is unlimited and much more click here or on the image below.
Gold Hits All-Time High, Silver Near $25, But Look At This Surprise
***ALSO JUST RELEASED: Gold Hits Record High Price As The US dollar Waterfall Decline Accelerates, But Here Is The Major Warning Signal CLICK HERE.
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