When one of the major currencies in the world begins to decline steadily, based on monetary history we would expect a bias toward positive movements in the precious metals.

If we watch the action in six important markets, then we must conclude that there is, indeed, cause for deep concern.

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.

One last subject is the performance of gold and silver themselves—which has been positive for more than two months—and to explain the reasoning behind these rallies.