Gold is wealth
Posted by Ivo Cerckel on September 18th, 2008
Gold is not money, nor hedge.
Gold is wealth.
Panic grips credit markets
By Krishna Guha in Washington, Michael Mackenzie in New York and Gillian Tett in London
Published: September 17 2008 18:23 | Last updated: September 18 2008 00:01
http://www.ft.com/cms/s/0/8058d308-84d3-11dd-b148-0000779fd18c.html
SNIP
The panic in world credit markets reached historic intensity on Wednesday, prompting a flight to safety of the kind not seen since the second world war.
Barometers of financial stress hit record peaks across the world. Yields on short-term US Treasuries hit their lowest level since the London Blitz, while gold had its biggest one-day gain ever in dollar terms. Lending between banks, in effect, stopped. UNSNIP
Then an odd thought overtook her.
Do not seek for reason in the specific patterns of stars, or of other scattered arrangements of objects
Look instead for a deeper universal order in the way that things behave
(Roger Penrose, “The Road to Reality: A Complete Guide to the Laws of the Universe”, London, Jonathan Cape, 2004, p.5)
How does gold behave?
Ben Bernanke, chairman of the US central bank, has lost control.
Gold and oil wealth now controls everything.
Economist recounts talk with Fed chairman
By Joshua Boak | Chicago Tribune reporter
September 17, 2008
http://www.chicagotribune.com/business/chi-wed_oilsep17,0,4833605.story
SNIP
“We have lost control,” said Hale, quoting Bernanke.
No related posts.