In a recent commentary I pointed out how ordinary investors were being “forced” to funnel most/all of their savings into precious metals – due to the lack of any rational alternatives. I pointed out how ordinary people were being denied any other opportunity to “invest”, but rather were being forced by their financial advisors to become “traders” (i.e. gamblers).

Where did it come from? Where did it go? These are the two principal questions being framed today, after Lord James of Blackheath (a member of the UK House of Lords) unveiled documentation (and accusations) concerning a mounting of illegitimate cash: $15 trillion USD.

Regular readers are excused for being confused by this title, or perhaps even suspecting a misprint. After all, having written numerous commentaries documenting the activities of the bullion banks in suppressing bullion prices, at first glance the title appears nothing less than perverse.