And the financial crisis deepens… Here’s an interesting article indicating how the EU rescue costs are starting to threaten Germany as well. The escalating debt crisis on the eurozone periphery is starting to contaminate the creditworthiness of Germany and the core states of monetary union.
Every day, we’re seeing more and more indications that buying gold is your best hedge against what’s happening in our global economy. Note from the article:
“Germany cannot keep paying for bail-outs without going bankrupt itself,” said Professor Wilhelm Hankel, of Frankfurt University. “This is frightening people. You cannot find a bank safe deposit box in Germany because every single one has already been taken and stuffed with gold and silver. It is like an underground Switzerland within our borders. People have terrible memories of 1948 and 1923 when they lost their savings.”