John Rubino "World May Be Headed To Complete Paper Asset Market Collapse" Part 1

[MX3516]

"The risk to the financial system right now is a wholesale loss of confidence." (8:40) "Everybody loses faith in the currency and dumps it, so they are willing to trade that currency for real stuff at any price, and so you see prices of real things go through the roof, which is the same thing as saying the value of the currency goes through the floor". (8:55) - Exactly what is starting to happen in the US right now.

[2011rcm]

Tekoa, maybe you could ask some questions on the brazilian banking system in the future. they have done some very good things in building a system that provides more confidence with regards to banking regulations.

As well Sprott is going to open a bank in Canada with some interesting aspects of provding backingto it holdings with gold although I do not know the ratio of cash vs. gold.

[blackswanflea]

A Feast. Thank you.