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Ben Davies: Acropolis now, again

Section: Daily Dispatches

3:40p ET Saturday, July 11, 2015

Dear Friend of GATA and Gold:

Hinde Capital CEO Ben Davies writes this week that whatever happens in the current negotiations, Greece eventually will default on its debt and the euro generally will fail simply because Europe is not a country but a collection of countries with profoundly contradictory interests.

Turning to gold, Davies notes that it has performed well for those whose national currencies are under the greatest stress. As for gold's price in other currencies, Davies adds that central banks can't want the monetary metal acting as the proverbial canary in the coal mine. "God forbid the canary sings and gold reacts violently higher," Davies writes. "Then the state monopoly on debt and money really would be up."

Davies' analysis is headlined "Acropolis Now, Again" and it's posted at Hinde Capital's Internet site here:

CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.


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