Gold favoured as Mervyn King warns of “exceptionally threatening” risks from the eurozone
Delivering a financial stability report, Sir Mervyn King, the Governor of the Bank of England, has appealed to banks to ready and defend themselves against a possible eurozone collapse.
The Mervyn King speech warned that it was not just the UK but financial systems world over that are vulnerable to the debt crisis that is systemic in the eurozone
He said: “In the UK, we must try to bolster the resilience of our financial system to better withstand the storms that may come in our direction.”
Jason Cozens, CEO of Gold Made Simple ® which is one of the leading providers of gold news and physical gold bullion in the retail, wealth and fund investment markets, said “The world hasn’t seen this kind of economic and political uncertainty for decades and the troubles are far from being over. This is one of the most important times for investors to insulate themselves with the safe haven of gold by buying physical and allocated gold bullion.” he went on to say “you don’t want any electronic ‘synthetic’ gold either. Physical and allocated gold bars with your number on them and in a segregated vault, independent of the banks, that can be delivered to you on demand”.
Related posts:
- Bank of England releases Financial Stability Report: calls the environment “exceptionally threatening”
- Gold Update: Mervyn King starts talking – and gold starts moving upwards
- Mervyn King is a “fan” of inflation – New report sees inflation near 7%
- Moody’s warns UK could lose AAA status
- Gold and the Eurozone Crisis
Link to this article: : http://www.goldmadesimplenews.com/analysis/gold-favoured-as-mervyn-king-warns-of-exceptionally-threatening-risks-from-the-eurozone-5828/
Posted by Kate Gerbich on Dec 1 2011. Filed under Analysis.
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