Gold and Silver are Down in a Currency Crisis? Plus a great quote from Eric Sprott‏

With a day like this, when gold, silver, and mining stocks are down across the board, it's best to step back and look at the fundamentals.

Let's look at what is happening in the world right now on a day gold is down nearly $100 from its all time high (down 43 for the day).

 

• ECB continues to provide quantitative easing adding  €13.96 billion in PIIGS debt purchases last week.
• Greece is unable to repay its debts.
• NOT 1 European or American bank has marked sovereign debt to market.
• In the U.S., QE3 is now imminent.
  

All of these things should put gold over $2,000 and silver north of $50 in our opinion. Yet, the trend continues to bump against strong headwinds from margin hikes, bubble talk, and of course an abundant supply of paper contracts that have ZERO metal backing. FutureMoneyTrends.com believes that soon this trend could explode to the upside. Just last week when billionaire Eric Sprott was interviewed, he stated that "the sky is the limit for precious metals now." The reason we point this out is because we believe that the fundamentals for precious metals are better than ever, yet the games played by the powers that be are at full throttle trying to shake people out of their safe haven assets.