paper gold default report - february edition, page-11

Kyle Bass of Hayman Capital is on record saying he had all sorts of problems taking delivery of his physical gold in 2011 and stopped short of alluding to more detail on why providers objected. He manages only $1Bn or so.

Given some sovereigns are in the early stages of development of their monetary systems (namely China, India, Brazil, Pakistan, Nigeria, Angola) - it is in the financial interests of developed countries to hold back the development of these emerging economies since they could not handle the pressure of competition.

It is in the interests of emerging markets to develop along the same trajectories of their more mature OECD competetion, and stablise their currencies via utilising their current account surpluses while they have one.

Something has to give sooner or later, and the OECD countries have it all to lose.

(MF Global and ANZ Opes are perfect examples of no intention to provide a product. Amongst others is pure unadulterated fraud)