the royal bank of scotland has just been cooked. Bank of america is the walking dead. what ever the FED is selling, i don't want it. thanks, but no thanks. 10%+ in gold production shares and a few kilo of gold as insurance can't hurt. ask an icelander what he would prefer? the remaining i-bankers are preparing to run roadshows for gold mining ipos in the 1st and 2nd quarters so there will be the added fuel of them ramping up interest.
i was at the beijing gold market on January 1. both levels of the building were packed standing room only with people lined 7 deep around counters. The morning turnover was a record and featured on the Beijing TV news. there were many more people buying than jan 1 last year. double according to the lady handling the pama ingot sales.
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