Tuesday, February 9, 2010

World's Central Banks Meet in Secret in Australia - Feb 09, 2010

Central banks meeting in secret it Australia... it sounds like The Creature From Jekyll Island all over again. Greece, Portugal and Spain et al on the brink. A stock market [the Dow] that wants to die. It appears that the central banks are watching their control of world financial and monetary events slip away... and are in a full panic mode.

Then, and only then, will we find out which countries and their respective central banks have gold reserves of any kind... and how much they really have left.

In the interim, things are going to get incredibly ugly. And, without doubt, the world's central banks will resort to anything to prevent 'all of the above' from happening. But it's way too late for that now. And, as Ambrose Evans-Pritchard said in his story from The Telegraph above... the crisis in Greece is now escalating into a "global margin call as confidence ebbs."
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