Bull, et al,

Whether or not KBX blows off Monday, I think all on this board who have yet to prep themselves for a potential currency breakdown should hasten that work.

I have been struck by reading and listening to reports in recent days, of how those who have lived through currency crises elsewhere were astounded at how rapidly they unfolded. Things were fine one day. The next, they were not. Few were prepared.

It seems to me that the recent run of half-baked denials of over-leveraged physical gold and silver traading, such as those that were dispensed on Puplava's shows this weekend, speak to a last-ditch PR effort. Whether or not this misrepresentation of gold and silver trading is orchestrated among the banks/government is irrelevant. What is relevant is that it does, according to multiple sources, occur and does mean that each ounce of gold or silver is being asked to do the work of 10, 20, 100, which in the end cannot be accomplished.

The fact that a story regarding this ran in the New York Post, part of the so-called mainstream media, could be the indicator that this exposure is reaching public critical mass. It may be old news to frequenters of message boards and alternative web sites, but many in the general public will be surprised to learn of this. Just as banks can survive franctional-reserve lending only based on confidence that if needed, the depositor's money will be available, so it is that bullion futures markets must, on some level, offer confidence that those wishing to take delivery can do so in timely fashion. Those who say default is impossible because cash settlement would be made are offering a ridiculous premise to obscure the unfortunate truth.

The crushing debt of the U.S. as a whole, our states, our counties, cities and smaller municipalities will only exacerbate a flood into precious metals and away from fiat currency. No one can pinpoint the exact time for this tipping point occurring. But can anyone afford to be late?

Goldcarp