Landscape is different. The banks (primay) have already been bailed out and the loses from the home market havent even begun.
Consumer debt wasn't the significant factor it is now either. The method of bank funding is also a completely different beast.
The government may not be able to take on liabilites for the banking sector this time. The hole is already huge and probably still has a long way to go.
Was there a credit crunch after the 70's bank crisis?
This comparision is tenuous.
I definitely think gold is going to figure somewhere in a solution. Personally, I had the idea that gold would be reliquished by debtors nations and its price revalued upwards - as a way to deal with sovereign debt.
Ha Ha ! I clicked that, then carried on watching the online BBC crosby-resignation commentary - and thought that someone had bombed the BBC !!! Nearly shat myself
What if the allocated gold conists of the big chunky good delivery bars that arent often sold for physical holding.
Would make sense to me.
?
Perth mint is such a benign sleeply little place. I cant imagine anything nefarious going on behind its walls !
What are the value of the long contracts held.? I would assume that no default could take place as it would be contracted that positions that couldnt be satisfied would be settled in cash? It would just mean a another bailout *just* !
This is no secret to investors surely?
I bought more gold today. I thought sterling...gold....sterling....gold.....gold....gold...
no contest really.
Still only around the 5% mark for GOLD though. Mostly in other currencies.
To what percentage are other people invested?