Gold is at the lows of the day, down $15 to $1570 after Cyprus announced a plan to sell 400 million euros worth of gold reserves to finance part of its bailout.
In the grand scheme of things, 400 million euros worth of gold is next-to-nothing but the market is jittery after the Fed talked about slowing down the printing presses.
A mere scratch on the surface of many things.
The LBMA can use that gold to give back to the US to give back to Germany. :)
ReplyDeleteThis is like a Texan holdem poker tournament and Cyprus was all in with just a jack.
Shawn
Indeed Shawn, and the casino games are rigged to benefit the house.
ReplyDelete