As the global currency war intensifies, the majority of attention has been paid to the 17% fall of the Japanese yen against the U.S. dollar over the past few months.
Last week's media headlines focused on how the election results in France and Greece reflected a wave of rising public resistance across Europe to the austerity programs being championed by Germany, the IMF, and the EU.
Earlier this week the Federal Reserve ignited a firestorm in the global markets by admitting that the U.S. economy is facing significant downside risks.
As a result of active "demonetization" efforts by the IMF and its member central banks, gold and silver have experienced the type of volatility that has given conservative investors reasons not to perceive the metals as dependable cash alternatives. Instead gold and silver have become known as the asset class to hold as a hedge against inflation.
