If through the auspices of Russia and China a gold backed monetary system is rolled out with the support of the Shanghai Cooperation Organization countries, nearly every other country on the planet could be counted on to realign itself solely for the purpose of financial survival.
The situation is ripe for just such an occurrence.
That which you refer to as a trivial matter tallies up to $13,908,316,031.40 at today's closing price for gold. Knowing that the FED has refused to give them their gold back, stating it will literally take years to bring the return about, should have had a seismic effect on the markets, particularly those that have a commodities focus.
One more thing... I have a brother that works for a German firm. He goes to Germany several times each year and France, too. He tells me that the average German, as well as the French that he has spoken with, really are put out with overreaching American hegemony AND the economic aspects of the failure of the dollar, which most view as a certainty.
I would be inclined to think that there may be more than enough inertia to cause the Germans to realign.
Let's hide and watch. I don't think it will be long before we have a good idea what will take place.. or not.
Beauty, just like the judgement of just how bad things have gotten (and here I recognize that I omitted the idea that the EU basically is counting on the industrious German people to bail out those that are not), is in the eye of the beholder.
Anything is possible, but I think that the relationship that has blossomed with China made be viewed as a safeguard for German interests.
As you may recall, the FED has basically refused to repatriate 330 tons of Germany's gold. There are now stories about the German government auditing precious metal ownership by institutions and private citizens. Coupled with the growing discontent with American spying, meddling, and the USDollar miasma, it appears that Germany may soon leave the "western block" and join with Russia and China (ostensibly the premier entities of the Shanghai Cooperation Organization), which bodes well for a gold backed currency to make its arrival on the global scene.
The backdrop here is Germany's commitment to procure Russian energy supplies as more and more the likelihood that Germany can rely on the US (in many different ways) dwindles.
We are on the verge of an astounding paradigm change... and it will not be financed by debt it seems, but instead real money.
And as we know, they are likely flowing to higher price offerings in a market not as "controlled" as the COMEX.
It also underscores the flow of PMs to the East as the West continues it's decline.
NOTHING EVER HAPPENS WITHOUT A CONSPIRACY.
The term "conspiracy theorist" is used to demean people that actually think about what goes on. Instead, it likely indicates a superior intellect.
I do not believe that there is any chart magic afoot here, only the ultimate failure of the paper money system.
paper assets are being discarded in favor of precious metals. Could this be the harbinger of the global fiat failure? I'd like to think so and I'm fairly certain that this is what it will look like early on. The death throes, of course, will be much more violent.
That said, let's do $28/share for SLW today.
The foundation for those massive DOLLAR gains in the DOW and Nasdaq is constructed of paper and sand.
This is only Tuesday and my speculation was for this week. Just hold on!! We still have three whole more days and what's left of this one.
If we get there tomorrow, I might start touting $28, lol.