OF COURSE THEY WILL DEFAULT - BUT WATCH THE GOLD

08-Nov-2011 I am sure you have worked out by now that Greece will go bust. I told you they would last year. The Greeks have known it for ages but the lenders in the West are still to cotton on. When a lender does not take security for a loan they can hardly be surprised when the debtor walks away. Why would Greece adopt punitive austerity measures when it can simply walk away?

But the real story here is where's the gold? Germany and Italy have the second and third largest gold reserves in the world and both refuse point blank to put them on the table in he current negotiations. Now why would hat be I wonder? Could it be that when all this funny money goes down the crapper it is the only thing they have which wil be worth anything?

Exactly so.

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