Commodity Trade Mantra

Posts Tagged ‘Cyprus Bail-in’

Taking Your Gold for “The Greater Good”

There can be no doubt that the banks cannot deliver on the amount of gold that they have sold their clients on paper. This situation will hit a wall. Would the US government really turn to a 1933-style gold confiscation again? Probably not. But that doesn’t mean the threat to your gold has diminished. Instead there will be a new scam.

Gold and the Ghost of Bail-Ins Past

Last week Germany reminded us that large deposits are going to be subject to bail-ins if a bank fails. The ghost of the Cyprus bail-in may be returning to the financial stage. Europeans might be buying physical gold from concerns over the financial health of Portugal’s Banco Espirito Santo.

An Invaluable Lesson for U.S. Citizens from the Bank Confiscation in Cyprus

When countries, central banks, and commercial banks accumulate too much debt, and specifically too much debt relative to assets, you can be certain there is trouble ahead in the system. The U.S. government’s financial statements show net equity (ALL assets minus liabilities) of MINUS $16.9 trillion.

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