People need to take the whole range of lessons from Cyprus into account: One, that ultimately, given the leveraged nature of the system, deposit insurance is just another social promise which won’t be able to be kept. Two, that the regulators are completely incapable of balancing their own budgets, never mind managing a business as complex as banking. Three, you need to have some of your assets outside of the system. You need to own some things that they can’t print and regulate. And of one my nominations for one of those things would be bullion, gold, silver, platinum or palladium.”
Read the complete article at King World News here.
Please Note: This article is to inform your thinking, not lead it. Only you can decide the best place for your money, and any decision you make will put your money at risk. Information or data included here may have already been overtaken by events – and must be verified elsewhere – should you choose to act on it.