Monday March 26, 2012
Zero Hedge this morning reports that Turkey is floating a plan to confiscate the private holdings of gold by citizens. They would be given 'certificates' which would bear interest in lately diminishing Turkish lira.
This of course would allow the government to sell gold at high prices and stay afloat, never mind the citizens. This weekend in our update I reminded all that when times get tought, the issuers of questionable investments will walk a way from them. That happens at the government level as well.
Greece walks away from its debt as has Harrisburg Pa. This is all the more reason to buy Central Fund, assuming Canada does not try similar stunts. With their commodity based economy and banks in better shape, I would think not. CEF holds gold and silver in Canadian bank vaults.
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