On another note, James Rickards just recently iterated in an KWN interview that Gold is the ONLY currency against which all other currencies can be simultaneously depreciated at the same time.

To do so against each other's fiat sets off the currency wars in which we are currently entangled.

Never quite looked at it that way before I heard him say that, but he's right, of course.

I also saw a headline this AM that Basel III is "proposing" ---yeah, like anyone has a vote except the Roth elephant in the room-- that gold is now an acceptable asset class for including on bank balance sheets.

Is that wierd or what?

Debts have been "balance sheet assets categories" for so long, I'm surprised they "thought" of this on.....


beefsteak