| A technical default by the U.S., which is drawing ever closer, will have serious consequences for the global economy with gold and silver becoming the preferred reserve assets.
Bear in mind that the U.S. is not the hub of the global gold market. In fact, in terms of jewelry, bar and coin demand, the entire North America is only responsible for 8% of global demand. Europe and Russia is responsible for another 13%. In other words, these markets are not driven by the financial affairs of the developed world..............................................Full Article: Source
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