The Threat to Currencies from Banking Failures

This article points out the dangers to the value of credit from a rickety global banking system. This will almost certainly become the primary driver in the gold to credit relationship, replacing the so far relatively benign downwards long-term drift in currency purchasing powers. In other words, it is increasing awareness of systemic risk and debt traps that will drive the relationship, not false theories about interest rate differentials.

The entire western banking system is close to collapse

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