China Buys its Own Gold
Well Friday was a snoozer in New York. Markets didn’t make new highs. But they didn’t crash either. The S&P 500 remains near a 17-month high. And by most accounts, everything is fine in Greece, … And that, in turn, might even drive the gold price lower. But all these things are prelude to a bigger crisis. Papering over the insolvency of the Welfare State can only last so long – and we think the dominos will begin to fall in months, not years. In the meantime, though, …
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