What many traders are starting to realize is that the precious metals plunged with stocks in the recent market dislocation in 2008 because it was a 'liquidity crisis' among private institutions triggered by the credit unworthiness of individuals that provoked a general selling of assets.
What we are experiencing now is a sovereign debt (credit worthiness) crisis, which is really a currency crisis. A fiat currency is backed by nothing except the 'full faith and credit' of the issuer. It is not that it would have to be 'different this time' as some would think. It's not even the same thing, a different type of a crisis entirely. more...
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What many traders are starting to realize is that the precious metals plunged with stocks in the recent market dislocation in 2008 because it was a 'liquidity crisis' among private institutions triggered by the credit unworthiness of individuals that provoked a general selling of assets.
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