Soros. Gold. OTC derivative​s. Fiat.................from Rico

"Enter Stranger, but take heed
Of what awaits the sin of greed
For those who take, but do not earn
Must pay dearly in their turn."
- above the doors of Gringott's Bank

It is worth noting that George Soros has just tripled his position in Gold. Say what you want about him (I often do, and "that rotten Hungarian" is about the kindest thing I say), that he knows his currencies dead-cold is beyond question.
- That he has moved heavily into Gold says a lot about currencies.

Off-balance-sheet OTC derivatives are why the global financial system is at risk, and NOT because of Greece...or even Spain.
- The Greek situation (like Lehman's was) provides a good "cover story" and "cover for action" for a bailout of the quadrillion OTC derivatives positions held by the world's biggest banks (JP Morgan, Citibank, Goldman Sachs, Morgan Stanley, Bank of America, HSBC, Deutsche Bank, Credit Suisse, Barclays, and Societe Generale) who are insolvent. These are the culprits, not Greece, with their layered tens of trillions in derivatives over their bad investments.

Who even 'noticed' when Zimbabwe defaulted? So why is Greece any different? Their economies are similar.
- The difference is that no one held OTC derivatives on Zimbabwe, but they sure do on Greece! THAT is the huge difference...our genius bankers made some very heavy (and very bad) bets with these things and stand to lose unimaginable amounts of money if Greece defaults. NOT from the Greek default itself, but from the triggering of these derivatives (think CDO's/CDS's et al).

This is exactly why the BRIC's and the Asian periphery have been massive buyers of physical Gold (not to be confused with that paper ponzi scheme GLD)...make that not just buyers, let's say massive and aggressive accumulators of physical Gold.
- This is also why Soros has made his move (he's pretty well-connected, too...maybe he's seeing/hearing something none of us will ever be privy to).

I suggest that we may soon see a global "coordinated event" that will move the price of Gold.
- While Gold is now roughly 15% of Central Bank reserves (you know these guys, the ones printing huge amounts of paper fiat currency to try and fill the huge holes caused by our insolvent bankers ref infra), one way to increase that number is for Gold to increase in price.
- Remember what the US did in 1933? It revalued the price of Gold from $20/oz to $35/oz...a 75% revaluation for the purpose of increasing the value of its Gold reserves, AND increasing the ratio of Gold as a percentage of its reserves to currency.

Think about it.
- Could this be the secret "reset" button for a rapidly failing paper fiat system?