Everyone in the ruling political class is atwitter this week about "sequestration" and the automatic federal-government spending cuts that will be imposed on Friday if President Obama and Congress don't get their budget act together.

Do not depend on any type of resolution. However, do not fret about it excessively, either. Behind the distraction are the real developments that will have an effect on the global economy in general and your investment savings in particular. Regrettably, these real issues are taking place below the radar of public attention.

The real "fiscal cliff" is the one being digested right now in global metals and bond markets. This is the scene of the real action.

Bond investors are telling us with their shortage of enthusiasm for U.S. Treasury bonds that they anticipate the advent of yet one more global financial accident. And while gold and silver prices have decreased recently, that is just due to the fact that the main financial institutions-- some of the greatest customers of gold and silvers for a number of years-do not want to signal the average investors about exactly how important to the economy precious metals really are.

If the truth were to be known, the continuing decline of the dollar would certainly accelerate, and the Fed's policy of stubbornly continuing to print greenbacks to keep the economic train chugging along would instantly collapse.

Everyone understands that metals - God's Money - are the true stalwart when compared with any other investments. When the dollar finally crashes and some new U.S. economy emerges from the rubble, individuals holding gold and silver investments will not only survive but prosper, and many will be in a position to help the many others who haven't been so wise.

But as you contemplate this real truth about what's happening in the halls of power, keep in mind that not all purveyors of precious metals are the same, and not all gold and silver instruments are the same. Some you should embrace; some avoid.