Cyprus and Gold: Lighting a Candle in a Dark Room


Imagine a peaceful, self-satisfied Western investor asleep in a dark room. He’s had trouble sleeping lately, because he’s starting to become concerned about the safety of his personal wealth; recent events in Cyprus have not helped matters. He’s blissfully unaware that he is sharing his room with three large elephants, which are there every night but are hidden by the darkness.

Our investor awakens and lights a candle; suddenly the room is illuminated and he sees the three giant beasts. The vision terrifies him, so he quickly douses the candle and hopes what he saw was just an illusion. But of course, when the light shines on truth it’s impossible to return to a state of ignorance.

Recent events in Cyprus have had the effect of turning on the lights, exposing the ‘three elephants’ of international banking and the fiat Ponzi scheme upon which most Westerners’ financial health depends: inflation and purchasing power; loss of confidence in the present system that must be protected at all costs; and the peace that owning physical gold can provide.

Nick discusses the ‘three elephants,’ financial repression, the contagion effect and more.

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For more than a decade, Nick has focused on precious metals and the benefits available to investors who hold physical gold, silver and platinum bullion. As president and CEO of Bullion Management Group Inc. (BMG), a precious metals management company, he uses his understanding of the precious metals markets to develop strategies, products and services for clients looking to integrate bullion into their portfolios. In 2002, Nick launched BMG and BMG BullionFund, Canada’s only RRSP-eligible open-end mutual fund trust that purchases equal dollar amounts of gold, silver and platinum bullion. Subsequent products added include the BMG Gold BullionFund, the BMG BullionBars program and a third fund, BMG Gold Advantage Return BullionFund. Nick specifically designed all BMG products so they would not compromise any of the fundamental attributes of precious metals ownership: absolute liquidity, no counter party risk and no reliance on management skills. In 2011, BMG became an Associate Member of the London Bullion Market Association (LBMA) – the only other equally accredited company in Canada is the Royal Canadian Mint. In 2013 BMG became the first Canadian precious metals company to join the Social Investment Organization. Widely recognized as an international bullion expert, Nick has written numerous articles on bullion and current market trends that are published on various news and business websites and he speaks regularly with major media outlets across North America, Europe and Asia. His first book, $10,000 Gold: Why Gold’s Inevitable Rise Is the Investor’s Safe Haven, will be published in 2013. Every investor who is seeking the safety of sound money will benefit from Nick’s insights into the portfolio-preserving power of gold.

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