The foreign policy chickens are coming home to roost. (This is a good time to plug The Ron Paul Institute by the way).
Ezra Klein has a piece that is quite telling - being that Ezra is such a team-player. He writes:
The totality of the Bush administration's failure in Iraq is stunning. It is not simply that they failed to build the liberal democracy they wanted. It's that they ended up strengthening the very forces, factions and states that they feared. It is not simply that they failed to find the weapons of mass destruction that they worried could one day be passed onto terrorists. It's that a terrorist organization now controls a territory about the size of Belgium, raising the possibility that America's invasion and occupation inadvertently trained the fighters and created the vacuum that will lead to al Qaeda's successor organization.Fiat money is suffering and will end up with the same exact fate - complete and utter failure that is "stunning".
And all this cost us trillions of dollars and thousands of American lives.
I'm looking forward to Ezra's epitaph for the centralized planning of money. Hopefully he structures it, and words it, just like his Iraq piece.
Chris Rossini is author of Set Money Free: What Every American Needs To Know About The Federal Reserve. Follow @chrisrossini on Twitter.
ReplyDeleteYour gold ETF has changed
Provision to invest in gold deposit schemes introduces credit risk to such funds
Gold exchange traded funds (ETFs) have a new element of risk. These schemes which earlier held physical gold equivalent to the unit holders’ investments, now lend a portion of these, as part of a government move to meet gold demand through domestic sources.
This means they no longer directly hold all the gold their investors have paid for. This introduces an element of credit risk to these funds, say experts.
Goldman Sachs Asset Management runs India’s largest gold ETF. It issued a note to investors last month that the risk profile of the product had changed. “A situation could arise where the issuer is unable to return the principal physical gold to GS Gold BeES (their scheme) upon maturity or in case of an early redemption. Such inability to return physical gold could arise on account of liquidity problems or general financial health of the issuer,” said the note.
http://www.business-standard.com/article/markets/your-gold-etf-has-changed-114061700355_1.html