Community Views : What’s on the boards today….20th April 2011

20th April 2011

The Guardian

"Gold price breaks through $1,500-an-ounce barrier. Gold hits new record price as global economic fears push investors into seeking safe havens."

Bluecloud writes: "This is a joke. Gold is practically worthless if the economy collapses, just ask those who took piles of the stuff onto the Titanic.Consider also the origin of the gold you are buying. The cost to the environment is usually vast due to the mining processes involved and some of the gold in circulation has a very dirty history. Still, there is no moral necessity for greed."

The Telegraph

"The Royal Bank of Scotland and Lloyds Banking Group could not provide "basic information" on their own assets in the wake of the crisis or guarantee that they were not linked to "fraud or criminal activity", a Parliamentary committee has found."

jono says: "This really ought to be no surprise at all. The banks have been intertrading abstracted "assets" for so long that nobody knows which parts of many banks' assets are toxic and which are not.

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