For thousands of years Precious Metals (PM) such as Gold (Au) and Silver (Ag) have been utilized as real money for exchange, wealth store, and metric of value. While I am NOT an advocate of one single commodity backing our money (like a gold standard), I do believe that the price trend of PMs are the most important indicators of the value of fiat money, plus the crimes of corrupt banking corporations and governments that manipulate PM prices. The "Canary in the coal mine" is Gold - AuCanary.
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J.P. Morgan reopens vault amid gold demand: report
Wall Street JournalBy Myra P. Saefong
TOKYO (MarketWatch) -- J.P. Morgan Chase & Co.(JPM38.81,+0.75,+1.97%)has reopened an underground gold vault in New York amid soaring demand and prices for gold bullion, according to a report in The Financial Times published Sunday. The vault had been closed since the 1990s. Deutsche Bank AG(DB55.12,+0.19,+0.35%)and Barclays PLC's(BCS19.10,+0.25,+1.33%)Barclays Capital are also considering opening new vaults in London, the report said. J.P. Morgan opened its first vault in Asia for precious-metals storage in Singapore late last month. Meanwhile, prices for gold continue to climb, with gold for December delivery up $1.50 at $1,319.30 an ounce on Globex in Tokyo's Monday morning trading. The contract closed at a record $1,317.80 in New York on Friday after tapping a high of $1,322.