Fiat currencies are a CONfidence Job backed by nothing. Gold is real money for 5000+ years!
Chris Whalen – We Have Panic Right Now & Flight Into Gold !
With gold and silver on the move, and growing concerns about the health of the banking system on both sides of the Atlantic, today King World News interviewed Chris Whalen, from Tangent Capital. When asked about the record demand for gold and panic in Europe, Whalen stated, “Well they should be. We have paralysis, in terms of fiscal policies, as you know. Most of the EU governments are still not willing or able to engage on the more fundamental issue of money or budgetary constraints within the member countries. So, by definition, you raise the issue is this currency any good? Are we going to be using this currency a year from now?”
“So Europeans, who have the wherewithal, of course they are going to flee to gold. They are going to flee anywhere where they believe they can preserve principal. I hear the same concerns from US investors by the way. So if you are looking for havens, where can you go? You can go into physical gold and take delivery.
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