Saturday, May 18, 2013

Banks and National Currencies Have Real Risks

"The underlying and most fundamental usefulness of the precious metals remains unchanged. They are money outside the banking system. The risks of depositing money in a bank are clear from the events of Cyprus, and before that debacle, Lehman Brothers, Northern Rock and countless other bank collapses that litter the landscape of monetary history. Banks and the national currencies they use have real risks."

- James Turk via a recent GoldMoney article: