In terms of gold and silver, if this mountain of unbacked debt, now reaching several trillions of dollars, Euros, Yen or other currencies begins to truly collapse into an inflationary spiral, we will witness the onset of the mother of all precious metals bull markets.

From our precious metals point of view, I would note that if the production of these metals fails to meet demand, prices will likely rise, perhaps very smartly, thereby fueling additional increments of future inflation.