Bank Runs and Bullion Runs, Why?
Currency wars and the race to the bottom. Why are people making runs on banks? Lost confidence in their currency, Greece, Italy and and other European countries are seeing bank runs now, the problem is debt problems are not solved by creating more debt. The debasing (printing of more pretend money) currencies only puts off the problems temporarily. Countries where the currency is in most danger are seeing bank runs, people are looking for stronger more secure currencies to convert to, however this is like jumping out of the frying pan into the fire, it too is only a temporary fix.
I used to wonder how the U.S. Federal Reserve could print so much money without suffering to much devaluing of their dollar. I soon discovered how and why, the U.S. is the world reserve currency, the rest of world needed it to do trade so the excess money printing was spread out throughout the world. This was especially true when it came to purchasing oil.
Countries in the world have now figured this out and have had enough of this abuse, in a matter of months countries are now making deals to trade in their own currencies, gold, and are using their U.S. dollars to buy hard assets without wanting U.S. dollars any more. The Federal Reserve is buying (if you can call it that) toxic bank assets.
Bullion Runs Future of Gold
Governments around the world are also acquiring 2-3-4-5 times the amount of gold they acquired previously. Paper gold and silver bullion banks (that have sold on paper) more gold and silver than they have in their vaults are in trouble (they claimed a right to fractional reserve gold and silver). A Swiss Bank bullion vault was recently discovered to be empty and a customers allocated gold gone, Canada’s bullion vault almost empty, the bullion run has begun, people, countries, businesses taking possession of their gold preferring private vaults for safe keeping in their own countries.
Add to the mix the derivatives crisis where world’s banks have huge exposure, nobody can even put a figure on this except to say (600-1200 trillion) worldwide. JP Morgan derivatives losses may be the tip of this iceberg. Experts I listen to are saying when interest rates go up it’s game over.
Bank runs Bullion runs and your money, paper assets
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I urge you to do your own due diligence and I forewarn you do not let your hypocrite bank manager or minion employees intimidate you like they do so many (these supposed experts) are looking after their (banks) interests, not yours.
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