I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.- Thomas Jefferson.

debt clock

Tuesday, July 13, 2010

Mike Kosares: BIS gold swap signifies a threat to Europe, not to gold

Is it just a coincidence that Portugal has (or had) 382 tonnes of gold in reserve and that the amount of gold the Bank for International Settlements recently inventoried via a swap arrangement was 380 tonnes?

Let's put 2+2+2+2+2 together here. (Nothing in the gold market is ever simply 2+2.)

I don't know how many of you watch the "Pawn Stars" on the History Channel, but if you don't, let me introduce you to the key question asked of anyone who brings something into the store:

Do you want to "pawn it" or "sell it"?

No comments:

Post a Comment