"To me this is far from clear: The situation when the dollar collapses and, simultaneously, the gold goes up IMO presupposes some sort of a major collapse of the socio-financial system, which is very unlikely."
financialsense.com
<Another way to look at this, especially the issue of financial collapse, is to consider some of the things that don’t make it into the press. For example, the Bank for International Settlements (the “BIS”), which is the central bank for all central banks, recently formed something called the Financial Stability Institute. They didn’t form that Financial Stability Institute because everything is okay. They have a problem.
The Council on Foreign Relations here in New York is running simulation games on financial collapse. What is really interesting about these games is not the games themselves, but the participants. I have passed many of these people and it’s like Who’s Who in the financial world. I can promise you, these people have better things to do with themselves on a Saturday afternoon than to hang out on East 68th Street playing games. They have a problem.
The Kansas City Fed recently had a whole conference on financial collapse. These things don’t make the press. The day after I interviewed Paul Volcker, on July 11, Mr. Kohler, the head of the IMF, said the probability of a complete worldwide financial meltdown was one in five. One in five! This did not make The Wall Street Journal. This did not make The New York Times. This did not make any television show. The BBC picked it up and I clipped it off the BBC, the British Broadcasting Corporation.> |
