gold set to soar on cyprus bank run imo, page-265

Timber as someone that works in the finance team of a big 4 bank I can say the Aussie banks have come out of the gfc stronger than ever and are pretty much safest in world. The war on deposits is still going on with banks decreasing the % of funding of their loan book from the capital markets so they are not so exposed to a credit freeze such as what happened after Lehman.

Europe has some serious problems and the US recovery is I think weaker than market expectations so I think this will come to roost in 2nd half as expectations are disappointed.