Gold is money. Now, do you believe us? In what can only be described as a complete gold game changer, financial giant J. P. Morgan is now accepting gold bullion as money. As of February 7th, 2011, J.P. Morgan Chase & Co. announced that it will accept physical gold as collateral for investors that want to make short-term borrowings of cash or securities.
Presenting gold to satisfy demands for performance bond collateral has been allowed on the London CME in a limited way since October 2009. As of November 22, 2010, the Intercontinental Exchange Inc. (ICE) has accepted gold bullion as collateral on all credit default swaps and energy transactions.
When an industry giant like JPMorgan Chase and a couple of other financial market exchanges have effectively declared that gold is an alternative currency, you had better think long and hard as to the repercussions – namely, the dollar is in SERIOUS TROUBLE and you need to buy gold today and hedge yourself against its collapse by starting your own gold backed savings account.
Silver is next. You heard it here first.