As we start trading on Thursday, August 11 we begin to see a coordinated effort by governments to hold their banking system together.  In Switzerland there is talk of "pegging" a ceiling to the Aswiss Franc.  In the US,  the CME is starting to ratchet up margin requirements on Gold and the Swiss Franc.  

There are some excellent posts on that are worth reading:

Market price controls will work for a while and it is quite possible that they will be able to engineer a sell off in Gold over the next few days.  Governments continue to treat the symptoms and not the disease. In doing so they are making things much worse.

Leave a Reply.