“The ‘emperor’ here consists of central banks, commercial and investment banks and the commodities exchanges. The day everyone recognizes them as being buck naked — or in this case, stripped of the gold they claim to hold — will be ‘zero hour.’ It’s the day you’ll be happy you held on, even as gold sank from $1,900 in September 2011 to less than $1,500 as we go to press. Caution: What we are projecting here is nearly the ultimate in fat-tail events. But make no mistake: Zero hour — in the form of a precious metals default on the Comex, or maybe the London Bullion Market Association (LBMA) — is coming sooner or later.”
