Surprised not much talk about this on XJO.
US Financial Reform act due out around mid July (2000+ pages - thats a big book).
First Line: "It is touted as the biggest overhaul of American finance since the Great Depression"
Key points mentioned below are taxes on banks, derivatives trading by the banks, bailing out 'any' financial institution deemed to be disruptive to finanical system and the main one imo - the Volcker rule.
http://www.economist.com/node/16481494 - 1/07/2010
Has the ability to smash gold price, smash equities and put value back into USD imo.
To quote Caylus from an ealier post: "If everyone agrees to value matchsticks instead, gold becomes worthless"
US paper/matchsticks - any similarities? (Could this be possibly why the big drop on Au the other night?)
Cheers,
The Sparkler
fragile friday, page-131
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