"There has been a palpable change in the tone of the gold and silver markets in the last day. This tone reflected markets taking their eyes off Greece and looking at the ‘big' picture. The euro is climbing showing attention has moved away from there.
"Growth in the U.S. is there but nowhere near as vigorous as the media would have us believe. Growth in China is lower than double figures reflecting the anemic global economy. Growth in Europe is non-existent while the E.U. is still in recession. The weaker members of the E.U. are moving towards a depression.
"So while Greece has gained a reprieve, national debt levels worldwide are rising as a percentage of GDP because government revenues are falling as a result of poor growth."