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Dominic Lawson: It all went wrong when we left the gold standard

The Bullion Vault in London reports a 'phenomenal' interest in its product

Tuesday, 14 October 2008

My nearby market town of Lewes has started issuing its own pound notes: Tom Paine's portrait is on one side, Lewes Castle on the other. The Bullion Vault, a London gold broker, reports "phenomenal interest" in its product. The multi-millionaire media magnate Felix Dennis tells the FT that he has followed the instructions of his financial adviser to "buy gold. Physical bits, small bits, so when you need to get a sandwich you can take it down the shop and take 300 sandwiches away; God help me, in a vault here in London, I have huge quantities of small bits of gold."

We should not assume from this that the pound sterling is about to go the way of the Zimbabwean dollar. Lewes has ever been a contrary place; the Bullion Vault is obviously talking up its own business; Felix Dennis is h


Added: Oct-15-2008 
By: Ariomaniac
Tags: Financial Crisis 2008, Economy, Gold Standard, Austrian Economics, Ron Paul, Recession, Depression, Economic Collapse, Martial Law
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