Is the whole system going to collapse next month into a pile of burning rubble? Probably not. But July has some very scary problems to deal with, and if there is one thing the politicians can't do it is solve problems.
Europe will have the largest debt roll of the year, and this being a year of massive debt, it is likely their largest ever. The US is headed for another debt debacle, what pundits are calling the Fiscal Cliff. On top of these problems the "First World" will dig their hole deeper by flexing on Iran and cutting their oil supply. All Sovereign Nation-States are broke because they were taken over by Central Banks in the name of the science of economics which dictates to spend fiat cash at the behest of growth. The growth was always unsustainable because resources are finite and the price rises when supply drops. The cliff is different from any fiscal cliff, but it is a cliff none the less.
In the face of the turmoil lies precious metal. Banks hold gold to balance their books. Silver, which has similar properties to gold, is an industrial juggernaut. Same with platinum. These minerals define money, and the banking class understand this. They will likely be the only asset to benefit from here on out. This is all why I think there is a big price swing to the upside for PMs in July. Look for gold to move back to 1800 by the end of the month. The move will not stop there, and likely continue from here on out, as there are no solutions other than to let that which lies in bank vaults all over the world revalue to stop what indeed would be a massive impolsion of the financial system.