Reader S.J. asked about an update on the Bullion Direct debacle that was first publicized back in June. There is a good summary on the bankruptcy here [1]. Needless to say, this bankruptcy–which involved $25 million in physical gold purchases that were never made on behalf of customers–illustrates just how foolish it is to entrust your precious metals with any institution. Keep them well-hidden at home, folks!
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Switzerland probes banks over precious metals price fixing [2]
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Over at Zero Hedge: TheWorst Part Is Central Bankers Know Exactly What They Are Doing [3]
Items from The Economics Team:
Know Your Bank’s Texas Ratio [4] Hint: some banks remain in dire financial condition despite the “recovery”
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Over at Zero Hedge: The Worst Part Is Central Bankers Know Exactly What They Are Doing [3]
Items from The Economics Team:
Know Your Bank’s Texas Ratio [4] Hint: some banks remain in dire financial condition despite the “recovery”