DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - Impending Undeclared Default Of 5 Major US Banks

**awagsFare** · 01-31-2012, 09:59 PM

Grad,

Yours truly is of the opinion you have nailed all of it except for one overlooked correlation:
The reason why this "credit event"/5 bank default is GOLD positive is simply because the bankruptcy/coverup game is so painfully obvious "this time."

Those who have only 30 cents of each dollar account balance left will be vying for safe haven physical currency aka gold. Their only other alternative is Wiemar style equity purchases in respective global stock markets in order to keep up with inflation. Their gold buying competitors are the very thieves/bankers who will seize physical sovereign assets and leverage them into gold purchases, as well. This will force the price of gold to go much higher.

beefsteak

01-31-2012, 09:59 PM	#22
awagsFare Join Date Oct 2005 Posts 567 Senior Member	Grad, Yours truly is of the opinion you have nailed all of it except for one overlooked correlation: The reason why this "credit event"/5 bank default is GOLD positive is simply because the bankruptcy/coverup game is so painfully obvious "this time." Those who have only 30 cents of each dollar account balance left will be vying for safe haven physical currency aka gold. Their only other alternative is Wiemar style equity purchases in respective global stock markets in order to keep up with inflation. Their gold buying competitors are the very thieves/bankers who will seize physical sovereign assets and leverage them into gold purchases, as well. This will force the price of gold to go much higher. beefsteak
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