Silver Spikes 62% -Overnight- in Egypt on Devaluation...Illuminates the Need for Precious Metals
/From ‘Egyptian pound steadies after devaluation, IMF deal’:
Egypt has promised a move to a more flexible exchange rate system in the past, only to resume holding the currency at a fixed rate, while much of the economy depended on a black market rate that fell as low as 70 pounds.
Central bank governor Hassan Abdalla described the black market trading as a "disease" that reflected a lack of trust in the financial system.
"Thankfully, I can stand here today and say we have enough to fulfil our obligations and more," he told reporters at a rare press conference late on Wednesday. (REUTERS 3/7/24)
Why is this important? Egypt is the second to recently have a currency devaluation (See the what happened to the Lebanese Pound valued in Silver below)…many more to come and ultimately, the US Dollar (IMHO)…this means that the purchasing power of the money in the bank of the average Egyptian just got cut in half-overnight. Did you notice the term …lack of trust in the financial system’…? All of us need to consider this and obtain real things with our purchasing power before it is too late…food, water, energy, shiny precious metals, protection and moving to a less populated area….IMHO…this is NOT FINANCIAL ADVICE…please consult your financial advisor…
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Image Credit: silverprice.org at approx. 9:21am EST 6/7/24
According to Brian Byrne, in early 2023 the Lebanese Pound also had a currency devaluation and the Silver price spiked to 360,000…two weeks ago it skyrocketed to 2.2 MILLION/ounce of Silver(!)
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Image Credit: silverprice.org at approx. 10:18 EST 3/7/24
Stan Szymanski (or Encouraging Angels) is not a medical doctor. This is not medical advice. In all matters pertaining to the health and care of a human being consult a medical doctor. This is not legal, financial or personal advice. Consult appropriate professionals in those fields for that type of advice.
