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Message Subject Pacific Group Becomes Latest Hedge Fund Converting Assets to Physical Gold "Great Article a Must Read" !
Poster Handle Anonymous Coward
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Central banks have so far been able to manipulate interest rates to allow governments to service their debt at low costs, averting market seizures, Kaye said. Still, the next big rally in precious-metal prices may be 18 months to two years away, triggered by a “financial catastrophe,” he added.

Here are some money quotes:

Risk cannot be eliminated, it can only be suppressed or transferred to others.

In promising financial security to hundreds of millions of citizens, Central States have in effect claimed that risk--that the promises cannot be kept--has been eliminated. This is an ontological impossibility. Risk cannot be eliminated, it can only be pushed beneath the surface or transferred to others.

Promising financial security is also promising that risk has been systemically eliminated. This is the fundamental dynamic of the "social contract" that underpins societies and economies from Europe to Japan. It is a social contract constructed on an ontological illusion.

[link to www.oftwominds.com]

I'd like to quote the whole article, but that violate terms. Mr. Charles Hugh Smith talks about macro issues, not trees, forests.

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