Welcome to illuminati Silver, we tell you
the truth about silver. Today is Monday 13th July 2015 and we are
issuing this short video to update you on the Greek Debt Crisis.
A deal has at last been reached after 17 hours of negotiation between Greece and its European
Creditors which solves the debt crisis, at least for now, and keeps Greece in the Eurozone.
However, the terms, the Greek Prime Minister Alexis Tsipras signed up to will make him
unpopular with his own Parliament. At this stage the agreement is a Memorandum of Understanding
and therefore not binding. Once the Greek parliament gives its assent, the National
Parliaments for the countries in the Euro-group must also agree. So the deal is not finalised
yet. So what are the details:
There are a number of activities which have to be carried out by 15th July and 22nd July
Without being too technical they involve the streamlining and expansion of the Greek VAT
system to raise more revenue and a comprehensive pension reform programme has also to be introduced.
The key headline will be the creation of a privatisation programme aimed at raising EUR
50bn of which EUR 25 billion is to be used for the repayment of the recapitalisation
of banks, 25% for decreasing the debt to GDP ratio and 25% for investments. It is envisaged
that the Electricity Supply, Ports and Airports will be privatised first.
Our view is that this agreement will eventually be accepted – though no-one will be happy
with the arrangement, but it has become apparent that the Greek people did not have the stomach
for leaving the EU – which may have become its fate if no agreement had been reached.
There will no-doubt be more revelations during the coming days, but for now the core of the
Greek crisis has calmed down. However, one should keep an eye on China,
as we believe this will have a greater impact than Greece ever could, though once again,
despite its stock-market turmoil, we do not see China facing the abyss – well not quite
yet anyway. So what, you may ask, will be the impact on
precious metals and especially silver? Well we have not changed our downward forecast.
At the time of producing this video, gold has fallen by $11 and silver by 24 cents an
oz. We re-iterate what we said last time, do not
underestimate the ability of Governments to hold this whole edifice together for much
longer than many pundits believe possible. Do not be panicked into buying gold and silver
in large quantities based on hysteria and the ‘pumpers and dumpers’ shouting “Economic
Crash” from the roof-tops. There is time to slowly accumulate both of these metals
on a reasonable and sensible basis. We hope you have found this short video helpful
and informative, and would appreciate it if you would give us a thumb up or down, comment
and if you haven’t already done so subscribe. Disclaimer:
Silver Illuminati owners come from a background of Banking, International Wealth Management
and Economics. Having now retired from these worlds we are not qualified to give investment
advice. Therefore, this and other productions must not be deemed to be giving such advice
and merely represent the personal views of its owners.