The situation is worse for Gold, where paper debt that will never be repaid is unbacked (leased, hypothecated, and rehypothecated all mean it's GONE).
So what if the Central Bankers have so screwed-up the system that it is beyond repair, and beyond ever 'paying back' what is owed?
- MF Global, Cyprus, and bail-ins [read: you pay, not they] are coming to you soon!
Let this 'sink in'...if you choose to remain in the "system" expect to take losses on anything left in the "system."
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