Get Your Assets out of the Banks, Gold Rises to 3-Week High on Cyprus, Gold is the ultimate money

Cyprus : Everything within the banking system has counterparty risk
Published Mar 18, 2013 on Goldbroker

The Cyprus event may later, in the history books, be seen as the catalyst of the fall of a century long Ponzi scheme.

Wealth preservation is now absolutely critical. This involves eliminating counterparty risk whenever possible. EverythIng within the banking system has counterparty risk even if it is segregated or allocated. Lehman, MF Global and Sentinel are all examples of client assets being lost in the financial system.

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Cyprus : The Day After
Published Mar 21, 2013 on Goldbroker

If we look back at History, this is not surprising at all, because State bankruptcies have always turned into their people being ruined. Only the modalities differ : bankruptcies, hyperinflation, spoliation, bank defaults... alone or together. But, since March 16, it has suddenly become concrete. However stupefying this announcement is, one must now realise that this risk is very real.

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Gold Rises to 3-Week High on U.S. Jobless Claims, Europe Crisis
Published Mar 21, 2013 on Businessweek

Gold climbed to a three-week high after reports in the U.S. and Europe revived concern that economic growth will slow, boosting demand for the precious metal as a haven asset. U.S. jobless claims increased by 2,000 to 336,000 in the week ended March 16, the Labor Department said today.

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Cyprus Crisis Escalates - Banks May Remain Closed For Weeks
Published Mar 21, 2013 on Kingworldnews

James Turk told King World News that the Cyprus crisis has now worsened as fear and panic reign in the once quiet Mediterranean country. Turk also stated, “... the rule of law is being eroded everywhere. Private property is under threat.”

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Could Cyprus give gold a lift?
Published Mar 18, 2013 on Mineweb

Gold has struggled in recent weeks as speculators became increasingly positive about a global recovery and began shifting, particularly, out of gold ETFs.

But, events in Cyprus are threatening to remove this positive sheen from the global growth story and, gold could well benefit as a result.

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Europe's Citizens Now Have to Fear for Their Money' - SPIEGEL ONLINE
Published Mar 18, 2013 on Spiegel

For the first time, bank customers in a crisis-plagued euro-zone country are being forced to contribute to its bailout. In an interview, German economist Peter Bofinger warns the strategy is "extremely dangerous" and could lead to a run on banks.

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Ron Paul, "Gold is the ultimate money," Fox Business, 3/20/13
Published Mar 20, 2013 on YouTube

Campaign for Liberty Chairman Ron Paul appeared on Fox Business on March 20, 2013, to discuss gold as money, the Federal Reserve's disastrous quantitative easing programs, and what happens once a government destroys its currency.

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I'm betting that gold will hit £1,600 an ounce by the end of next year
Published Mar 20, 2013 on Moneyweek

Gold started 2013 at $1,685 an ounce. As I write this, it stands at $1,604. So it's fallen by $81 an ounce, or just under 5%, this year. The sterling price of gold tells a rather different story. Gold began 2013 costing around £1,036 an ounce. As I write, the price is £1,062.

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