-- Stage Two witnesses gold rise across the globe in all major currencies which draws in legions of newly-interested investors who haven't yet contributed capital to fuel this bull. It creates a virtuous circle where higher gold prices draw in more investors which drive prices even higher. Fear at the dawn of Stage Two is just plain silly.--
Posted this below the other day on another thread. The (BIS) is THE BANK of the Central Banks and to see such economic blasphemy given credence by them can only be positive for gold -
"bad" deflation with not a mention of bubbles - .
"If pursued resolutely, there is no reason to doubt that direct intervention by the central bank in the property (equity) markets could prevent “bad” deflation persisting. Once more we conclude that “bad” deflation is easily curable in principle in a fiat money system. Its persistence is a symptom of selfimposed constraints on central bank expansionary actions."
In other words - No reason for the junky to suffer withdrawal, increase his dosage.
Bernanke is not alone, this is not US specific and underlines golds strength across currencies.
"On March 10, 2003, the BIS abandoned the Swiss gold franc as the bank's unit of account since 1930, and replaced it with the SDR.
SDR stands for Special Drawing Rights and is a unit of currency originally created by the IMF. According to Baker," --
The above quote is from this cynical article below on the BIS which has an interesting history and set up.
GLOBAL BANKING: THE BANK FOR INTERNATIONAL SETTLEMENTS
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