by Carolyn Cui and Rhiannon Hoyle
Tuesday, February 8, 2011
Wall Street Journal
By making the announcement, J.P. Morgan is effectively saying gold is as rock solid an investment as triple-A rated Treasurys, adding to a movement that places gold at the top tier of asset classes. It also is trying to capitalize on all the gold now owned by hedge funds and private investors that is sitting idle in warehouses. LINK...
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Think about what this really means folks? J.P. Morgan one of the most powerful Wall Street Bankers is saying they want your Gold Bullion in exchange for their securities? One has to ask themselves, WHY NOW?
J.P. Morgan is willing to accept a volatile, risky and "Barbarous Relic" as collateral for securities that are as good as AAA rated U.S. Treasury's? Could this mean that the U.S.A. is about to lose their AAA status OR is Gold about to go SKY HIGH? As we said in previous posts,
"He who holds the Gold, makes the rules!"
And we mean the physical bullion, not some paper substitute. BK
