Robin Griffiths – Global Bank Crisis Will Push Gold Over $2,000

October 11, 2011

With gold, silver and stocks rallying, today King World News interviewed one of the top strategists in the world, 40 year veteran Robin Griffiths of Cazenove. Cazenove is one of the oldest financial firms on the planet and is widely believed to be the appointed stockbroker to Her Majesty The Queen. KWN wanted to get Griffiths thoughts on the action in gold, but first we asked about the reason for the rally in stocks and what is happening in Europe, Griffiths responded, “The cause of the rally in Europe is that Angela Merkel, the Chancellor of Germany and Nicolas Sarkozy, the President of France, have had a meeting and they are coming up with a plan. So far there are no details about the plan other than the total agreement that we need a plan. So it’s a plan to have talks about making a plan later is what we’ve got.”

“But, of course, the market has given a certain amount of credibility to it that they will come up with something. When you speculate on what that something might be, the first bit that seems obvious is the banks, the major banks of Europe will be ring-fenced.

The reason being, when Nicolas Sarkozy asked French voters, ‘Should I save French banks?’ The answer is, ‘Yes.‘ When Angela Merkel asked German voters, ‘Should I save German banks?‘ The answer is, ‘Yes.’ But when either one of them asks (their voters), ‘Should we save Greece?’ The answer comes back as, ‘No.’

So the first bit is they are going to ring-fence the banks. Anyone who is on deposit in the big French and German banks, which are of course the ones who have lent a lot of money to Greece, the depositors money at a minimum is going to be safe.

If it becomes necessary, then the banks would simply become nationalized, just as happened in Britain with Northern Rock and Royal Bank of Scotland. Your deposits there are safe, that’s the first thing that is going to happen. If we just allowed free markets to take place then many people would flood out of having their money on deposit with these banks.

Click below to read the entire article:

via My Blog.

© 2011 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.

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One Response to “Robin Griffiths – Global Bank Crisis Will Push Gold Over $2,000”

  1. Gold is going much higher and the monetary system will collapse, it is just a question of time.

    Prepare for the worst

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