Bill Holter’s Commentary
I especially like the quote from Willem Middelkoop!
‘It suits bankers when consumers see a bank as a large piggy bank with lots of money in the safe. Few people know that printed and minted money represents only a small percentage of all the money that is in circulation.
‘Research shows that, to this day, one-third of all people believe that vast piles of money lie waiting in the vaults of their bank for savers to go and collect. If savers realized the risks of their money being lent out over thirty times, they would probably prefer to buy gold.
‘For this reason, it is of the utmost importance for banks to play down the safe-haven aspects of gold whilst simultaneously trying to maintain people’s trust in money.’ Willem Middelkoop. (1962- ).