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  • In This Global Depression, Gold Is a Safe Haven [View article]
    "With banks cutting-off “letters of credit,” the wheels of global shipping have ground to a halt."

    letters of credit in the past were issued without the buyer putting money in the account. the difference today is that the banks are demanding the buyer put up money against issuance of the letter of credit.
    Feb 04 05:35 am |Rating: +4 0 |Link to Comment
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