A Thought-Provoking Gold "Rebuttal" From Somewhere.....
All governments and banks will tell you everything is ok and guaranteed until it is not. The system we’re in is completely broken and dependent on quantitative easing into perpetuity. There is no “market” anymore for anything, because interest rates are not at a natural rate and they will not be allowed to return to a natural interest rate. Its all one, big series of serious capital misallocation. Savers get punished and pulled into equity markets that are rising on vapour volume, or bonds that pay nothing. Behind the scenes are quadrillions in derivatives that are marked to some fairy tale valuation, but are really like drunks leaning on each other in a bar.
There is no amount of deposit guarantee that would protect a derivatives crisis. Bail out vs bail in....who cares, you will get skinned one way or another. Tax, levy, inflation whichever is politically expedient. There is not enough capital anywhere to plug the derivatives holes that already exists post Lehman. And really the reason why there is a save cyprus at all costs mission.
Thats the big secret, and gold trades unlike any other asset. I read one analysis that showed 96% of trading days on Comex was down…think about that. Why are people so shocked that gold is manipulated when we have libor, enron, madoff, man financial, and others? Gold is set by a process on the LBMA known as “fixing” ---- What more do you need?