The Phaserl


When Gold Does Beat Paper

from Gold Silver Worlds:

As already described in the last edition, the cash situation in Europe is coming to a head. France is toughening the rules on cash transactions as of summer and also Sweden and Greece are getting serious: cash payments will be limited to EUR 70 (i.e. USD 79).

Alarm bells sound as the ECB announces a conference on cash in London. Both the event‘s title „Solution in case of emergency“ as well as the speaker and participants list bode ill. Representatives from the Fed, the Swiss and Danish central banks as well as other Eurozone regulators will hang on the lips of such infamous cash adversaries as Kenneth Rogoff (Harvard) and Willem Buiter (Citigroup). Citizens will have to suffer should these fantasies come true.

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