All gold bulls should relax, just keep your eyes on European happenings, quote John Mauldin re some European banks
"These banks have long been instruments of state policy in Europe. They've funded all kinds of government projects and favored industries. Making loans is far more popular with politicians than demanding repayment for loans. As a result, these banks are left with nothing in the kitty to repay their depositors. If there's a run on these banks (and there will be), how will they come up with money that's owed?"
All in all, the mess in Europe is so very very bullish for Au.
