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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (75478)	6/21/2011 8:39:11 PM
From: TobagoJack	Read Replies (1) \| Respond to of 217592

just in in-tray From: J Sent: Wed, June 22, 2011 7:54:00 AM Subject: Re: Stocks Cheapest in 26 Years as S&P 500 Falls, Earnings Rise 18% 16 m greeks and 1.3 b chinese want the same, along with 1.3 b indians, and ... but only 2 olympic-sized pool in volume exist in aggregation-ready form what to do about pricing? ft.com Greek savers rush for gold By Kerin Hope in Athens Published: June 21 2011 13:50 \| Last updated: June 21 2011 22:34 Greek citizens are emptying savings accounts and buying gold as they brace themselves for the possibility of a sovereign default and a run on the banks. Pledges by socialist prime minister George Papandreou that his government would “save the country” have been widely discounted by the public. However, parliament gave him a vote of confidence late on Tuesday night. The socialists have a six-seat majority in the 300-member house. Sales of gold coins have soared as savers seek a safer and fungible source of value. “When the global financial crisis started, our sales of coins to investors overtook bullion for the first time,” said Harry Krinakis, at Sepheriades, a Greek precious metals trader. “Now the sales ratio has reached five to one.” Tomas, a computer technician, has exchanged his euro savings for gold coins: “I keep them at home just like my grandmother did in the second world war.” Monthly bank withdrawals were running at €1.5bn-€2bn (£1.3bn-£1.8bn) in the first quarter. Last year, depositors withdrew €30bn, equivalent to 12.3 per cent of total savings, according to the central bank. Greek deposits worth an estimated €8bn were transferred to banks in Cyprus in 2010. But the flow has dried up this year amid fears that Cypriot banks could suffer contagion. Andreas, a supermarket manager, transferred the family savings to Munich earlier this year: “The Swiss banks aren’t interested unless you’ve got several hundred thousand euros.” “We can’t trust the politicians to get us out of this mess [and] have to protect our families,” Sakis, a garage owner, said at an anti-austerity protest in Athens’ Syntagma square. “A bank collapse has got to be on the cards.” He added he had withdrawn his savings and placed them in a bank safe deposit box “for security. Who cares about interest right now?” Others put their savings into land when prices fell after Greece’s first European Union-led rescue last year. Angelos, a software specialist, bought a neighbour’s olive grove. “I grabbed the opportunity,” he said. “A year ago I wouldn’t have considered making such an old-fashioned investment.” Copyright The Financial Times Limited 2011. Print a single copy of this article for personal use. Contact us if you wish to print more to distribute to others. From: r Sent: Wed, June 22, 2011 7:21:52 AM Subject: Re: Stocks Cheapest in 26 Years as S&P 500 Falls, Earnings Rise 18% PBOC issues more commemorative coins to meet soaring demands English.news.cn 2011-06-20 17:12:25 FeedbackPrintRSS BEIJING, June 20 (Xinhua) -- The People's Bank of China (PBOC), the central bank, announced on Monday that it will issue more gold and silver commemorative coins featuring the giant pandas to meet soaring demands for precious metals in the country. PBOC said the maximum circulation of the one-ounce gold coins with a face value of 500 yuan (77.3 U.S. dollars) will be raised to 500,000 from 300,000 previously set at the end of last year. The maximum circulation of four other gold coins with different gold purity and face values ranging from 20 yuan to 200 yuan will increase to 600,000 each set from the previous 200,000.