Dear Readers,

We’d just like to start by giving a massive congratulations to Prince Harry and Meghan Markle on their engagement; such news warms the heart that love can actually win, especially during a time of often contrasting difficult news. The joyous and often witty celebration on twitter was above par yesterday. However, my favourite reaction came from the British website Joe.co.uk:

“Successful actress Meghan Markle to wed former soldier: Outside of her day job, Markle is involved in a number of humanitarian projects. She has worked as a United Nations ambassador, visiting Rwanda and India. Windsor is a 33-year-old former soldier, having served in Helmand, Afghanistan with the Army Air Corps. He is currently unemployed but does charity work.” Apologies to Harry, we know life in the public eye as an often civil servant of one’s country can be far from easy. But that made me chuckle.

 

Prince Harry poses with his fiancee Meghan Markle (Source: ABC News)

 

Let’s now turn our attention to two key headlines and developments from November, which will affect the price of Gold and Silver, both in the near and far future.

 

The Brexit Bill Deal

It struck me only a few days ago that if the EU was never going to negotiate fairly with Britain when we were in the EU, why would they negotiate fairly with us now we’re out? Today, The Telegraph writes that the size of this bribery from such a belligerent, immovable institution as the EU will finally “unite the British people in disgust”: 

The Telegraph exclusive revealing that the Government is prepared to pay over £40 billion sterling is totally and utterly unacceptable. Recent opinion polling has showed that only 11 per cent of the British population would support a bill in that region. For a sum of this magnitude to be agreed in return for nothing more than a promise of a decent settlement on trade represents a complete and total sellout.  From the very beginning, during the referendum itself, I argued that no deal is better than a bad deal, and make no mistake about it, this is a bad deal. In fact it is worse than that, it’s not even a deal at all. It’s a large sum of money being paid for the promise of a potential trade treaty in return, but with no guarantees.” 

A cartoon showing a huge money bags with people from Europe and Britain shocked at its size
(Source: The Telegraph) 

It is hard to say precisely when this will affect the price of Gold and Silver. But – as always – economic pressures and uncertainty always favour investment in Gold and Silver, as a timeless safe haven. 

 

End of Banking Deposits Protection

As if that news wasn’t concerning enough, the EU would like to also end something that keeps up to £85,000 of our money in the major banks safe. A big thank you to the brilliant Dan from the Bleyer team for finding this article for me: 

This month it became very quiet news that the “ECB wants to end deposit protection & offer savers [an] ‘appropriate amount’ of their own money. Covered deposits no longer need to be protected, according to the European Central Bank (ECB), which has proposed this month to stop withdrawals when a bank is on the verge of failing.” Yes, you read that correctly. 

If the EU demand a divorce bill of over 40 billion pounds, just for us to talk to them about a future trade deal, what do you think their definition of the ‘appropriate amount’ would be to give members of the public if a bank failed? The quicker we get out of the EU and make up our own rules of protection for our investors and companies the better.

The EU goes on to extrapolate that they believe “covered deposits and claims under investor compensation schemes should be replaced by limited discretionary exemptions to be granted by the competent authority in order to retain a degree of flexibility,” said the bank’s proposal. It has suggested the current €100,000 (£85,000) deposit level currently protected in the event of a bail-in would no longer be available.

Gosh, that doesn’t sound totalitarian and over controlling at all…

“…during a transitional period, depositors should have access to an appropriate amount of their covered deposits to cover the cost of living within five working days of a request.” That means depositors will have to wait five days for a ‘competent authority’ to decide what is an ‘appropriate amount’ of their own money for them to have access to buy food, pay bills and so on. The ECB said a pre-resolution moratorium should be used to “prevent severe deterioration of a credit institution’s balance sheet.”

So, their protectionism of their credit institution’s balance sheet is only possible by effectively stealing the life savings of you and I. No, thank you. As far as the result of the EU referendum now looks, the words ‘dodge’ and ‘bullet’ come to mind…. 

“The proposal still needs to be agreed by the EU member states and then approved by the European Parliament has already been criticized by lobbying groups and regulators, claiming it would endanger financial stability.” (RT Business News)

It is a no brainer that anyone who hears about this – and it is being kept very quiet – will sensibly and immediately look for somewhere else to place their savings. And time is of the essence.

It is not without reason that many, many ordinary people will turn to placing their wealth into the safe havens of Physical Gold and Silver, as this cannot be stolen from you by a bank going down the tubes. It’s your’s, in your hand or in your secure storage vault.

This desire to move one’s money into an alternative safe haven will be just as true for people both still in the EU across Europe, as well as investors in the UK. Thus, the price of Gold would be expected to rise as demand for Physical Gold increases in line with the visibility of this latest development. The part that concerns me deeply is how much notice would be given to the average investor if the EU vote on this change? 

 

European Bank Deposits take centre stage in our Monthly roundup of key Gold & Silver stories from November 2017

 

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In conclusion, we hope these thoughts inspire our readers to take action and call Bleyer today to discuss buying Gold and Silver bars and coins. We have a friendly team who will answer your questions, not just process your order, which can be done either online, over the phone or – if you’re in the South West – via local appointment.

Call 01769 618618 or order online at www.bleyerbullion.co.uk

We hope you have a good, safe and happy week.

 

Six gold bullion bars stacked up