The usa is really finished this time
If your gold is held at an LBMA bank, you may be just an unsecured creditor, as much as 50,000 tonnes of gold have been sold that do NOT exist. That is equivalent of all the gold reserves in the world that are yet to be mined -- or, put another way, 25 years of gold production.
The LBMA is likely to be the next Madoff scandal, multiplied by 100 -- a $5 trillion fraud as opposed to a $50 billion fraud.
The LBMA is likely to be the next Madoff scandal, multiplied by 100 -- a $5 trillion fraud as opposed to a $50 billion fraud.
Comment
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Comment by fireguy on March 10, 2010 at 12:19pm
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Proverbs 22
1 A good name is more desirable than great riches;
to be esteemed is better than silver or gold.
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Comment by graeme sutherland on March 9, 2010 at 8:47pm
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ermmmmm lol yea but that is hardly the issue, friends and seeds and guns or toasters for that matter and stuff do not balance the cash in circulation or cause the economy to collapse. There is serious corruption at the top of the tree in the USA.
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Comment by ew_keane on March 9, 2010 at 8:04pm
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All that glitters is not gold. Guns, tools, seeds and of course, friends are worth more than all of the gold in the world.
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That is why you should buy and hold physical gold not paper.
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