18 December 2014

Reprise: Kyle Bass On Holding Gold In a Bullion Bank Comex Warehouse

'It's actually an easy decision if you are a fiduciary.'

Especially if you take the duties of a fiduciary for other people's assets seriously.

What about the fiduciary responsibilities of central banks?  Hard to say, right?

We'll get right on that-- in about seven years.  Jawohl!   And no need for an audit.  We believe.

And as for private citizens, when and if the time comes when there is a 'run on the bullion banks', I would not be surprised to see forced cash settlements, and 'bail ins' with even allocated receipts being taken.

Does this seem unlikely, improbable?

MF Global.