Bullion Banking: The Mechanics and the Players
derryb
Posts: 36,823 ✭✭✭✭✭
"Bullion Banking as presently practiced is concerning for a number of reasons. It channels demand that might otherwise have gone into physical gold into paper alternatives that have little or no impact on physical gold demand. It facilitates a vast and opaque system of speculative trading. And it ultimately props up and protects fiat currency systems to the detriment of the gold price."
Disclaimer: the opinion is from a bullion seller. FWIW my cardiologist and my mechanic also offer advice and opinion based on years of selling their services.
"Interest rates, the price of money, are the most important market. And, perversely, they’re the market that’s most manipulated by the Fed." - Doug Casey
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