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Who needs gold five years after Lehman’s?

Posted on 16 September 2013

The phones lit up when Northern Rock failed in September 2007. But demand to buy gold was simply phenomenal when Lehmans failed 12 months later.
The reason? ‘I want to get my money out of the bank,’ said a flood of email enquiries. But instead of forming a queue in an old-fashioned bank run, savers found CHAPS transfers now made a quicker and simpler exit. And in the first financial panic of the digital age, it was still gold – the barbarous relic – that made the perfect safe haven once more………………………………………..Full Article: Source


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VRS - who has written 36521 posts on Opalesque Commodities Briefing.


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