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As of this morning all nations belonging to the G20 will immediately submit and pass legislation that will fulfill a new investment program. This new program creates a whole new paradigm and set of rules whereby banks will no longer recognize your deposits as money.
Large deposits at banks are no longer money, as this legislation will formally push them down through the capital structure to a position of material capital risk in any "failing" institution. In our last financial crisis, deposits were de facto guaranteed by the state, but from November 16th holders of large-scale deposits will be, both de facto and de jure, just another creditor squabbling over their share of the assets of a failed bank
and according to Bloomberg Cash Under Mattress May Be Better Than G-20 Bank
Solid Ground report has been providing investment advice to professional investors for almost two decades. Sometimes wrong, often right but always interesting, thought provoking and informative it has become a ‘must read’ for many investors.
Panic selling hit the gold market, driving a mad rush out of other commodities and risk assets, as traders saw China's disappointing gross domestic product data as confirmation the global economy is slowing.
Gold futures for June delivery fell 2.2 percent to $1,531 an ounce at 9:53 a.m. on the Comex in New York.
Hedge funds and other speculators added to bullish gold bets before the metal slumped into a bear market and Goldman Sachs Group Inc. warned the retreat is accelerating after the longest rally in nine decades.
The investors increased net-long positions by 19 percent to 56,084 futures and options in the week ended April 9, the first gain in three weeks, U.S. Commodity Futures Trading Commission data show. That contrasts with a 7.9 percent decline in bullish wagers across 18 U.S.-traded raw materials, which fell to a five-week low of 431,581 contracts. Holdings in agriculture dropped to the lowest since September 2006.
The turn in the gold cycle is quickening and investors should sell the metal, Goldman Sachs said in an April 10 recommendation that returned 5.4 percent in three days. Gold retreated as the Standard & Poor’s GSCI Index of 24 raw materials fell to a nine-month low, extending a slump that Citigroup Inc. said marks the “death bell” for the supercycle, or longer-than-average period of rising prices. Global equities advanced to the highest since June 2008 as U.S. stocks reached a record.
“Anybody who did some buying before this big drop is probably in some pain,” said Donald Selkin, who helps manage about $3 billion of assets as chief market strategist at National Securities Corp. in New York. “The perception is that gold is not really needed as a safe haven. People are looking at the stock market and they’re stunned, and there’s no inflation. So people are saying ‘What do we need gold for?’
about the Federal Reserve and you have Federal Reserve officials leaving their position to go to wall street. as well as U.S. and UK to test big bank collapse in joint model run it leaves one to wonder is the takedown of gold a sign that the entire global financial system is about to crash?
"If we had seen a governance structure that corresponds to our Federal Reserve system, we would have been yelling and screaming and saying that country does not deserve any assistance, this is a corrupt governing structure," Stiglitz said during a conference on financial reform in New York. "It's time for us to reflect on our own structure today, and to say there are parts that can be improved."
Your bank deposits are no longer considered money.
ms: touchable, palpable, material, physical, real, substantial, corporeal, solid, concrete; More
noun: tangible; plural noun: tangibles
a thing that is perceptible by touch.
originally posted by: onequestion
a reply to: supergravity
Can you clarify your point because Im having trouble making sense of what your wrote.
originally posted by: supergravity
a reply to: phoenix9884
In the 1960's two dimes(silver) would buy a gallon of gas, Those exact same dimes today will buy 5 gallons of gas. It is only what we are taught to perceive that makes us think gas prices have skyrocketed.