gold, page-551

Hi Forged and all,

I don’t think it’s a silly question; I think if we did have a full blown systemic failure they could close the stock market down. In the days of the instant computer stroke why does it still take 2-3 days to settle a trade or even a personal cheque for that matter?

Ponder this question the local bank manager at Northern Rock in Newcastle UK is talking to an old lady wishing to open an account with say one thousand pounds for her grandson’s future education. The manager has spoken to several other branch managers and knows about the imminent N R failure. Does the manager suggest she find another bank or does he take the money?

I am currently holding a reasonable amount of Gold shares one RSG has done particularly well for me, I think longer term they could move from their Friday close of $0.86 to $1.00 or even $2.00. I am seriously thinking about the timing when I take the money off the table and convert it to physical metal outside of the regular banking system. Given my beliefs over the last few years I may be better off taking $0.80 / $0.90 than fighting my broker / bank for a paper price of $1.00 / $2.00.

Looking at the enormous debts, money printing, possible future QE, zero and even negative rates and the banks that were too big to fail last time (2008) are even larger now I see little reason to take foolish risks on the probity of bankers, broker’s and governments!

For my liking there has been far too little protest to recent law changes here in Australia that paves the way for Cyprus style bank bail-ins.

Talking to my own broker and we have been very close personal friends for many years he tells me there have been many changes within the industry. Stock brokers today are terrified of suggesting a particular stock and any research notes from the company have a two page disclaimer similar to when you put your leather jacket into the dry cleaners. They rip the sleeve off and it’s your fault.

No my friend it is far from a silly question I believe it one worthy of further discussion.

Cheers and very best regards: Andy