Fleeing to safety

Posted on: September 19, 2008

A few posts ago I wrote in spite of the American financial crisis, gold was holding steady, meaning people still had confidence in the market, life goes on.

Things change fast in a financial crisis.

In a sign that people really wanted a safe place to park their money, gold rose Thursday $70 an ounce, and $100 on the week, approaching $900 American, climbing over that figure in Canadian dollars before falling back.

In a sign that money was frozen in the United States, the rate on Treasury Bills – the government issued short-term investment- was effectively at zero. Investors, looking for a safe place to park their money, made safety a priority over everything else as even banks couldn’t trust lending to each other during a historic week of meltdowns.


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  • wordbeeps: No, he doesn't deserve an apology. Who tweets during a funeral? If you do, expect feedback. I didn't say the mourners were faking it. I think they we
  • Holly Stick: Look you fuckwit, are you too stupid to realise that Ghomeshi was an actual friend of Layton's, when you tweeted to him that the mourners were faking
  • aardvarkcola: Thank you. I see the rest of your message now. i'm honoured to to have your words on my blog. That alone is a delight. Lawrence


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