Economics and Investing:
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. 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! o o o Switzerland probes banks over precious metals price fixing o o o Over at Zero Hedge: TheWorst Part Is Central Bankers Know Exactly What They Are Doing Items from The Economics Team: …