the end of the financial world

Dear All

It must be remembered that Glencore/Xtrata have chased nickel assets hard over the past 18 months - they are not complete idiots.

Having said that we live in times that are so extraordinary that the overwhelming majority of folk would not have conceived of them including Glencore and BHP for that matter.

Sure, there are always a few nutters out there crying out that the end of the world is nigh.

I still don't think they are right, but try running through the situation as an academic exercise of a prolonged disruption or failure of the banking system.

One can then see why the central bankers are so worried.

Actions do need to be extreme because it is not not just Minara which is at risk but every single stock you own. And by the way Mr Rudd will only guarantee 85% of your first $20,000 in the bank so not too much point turning to cash as a safe haven.

Regards EOS