The Real Losses in the Mortgage Collapse
Feb 14, 2008
On February 5 The Asia Times reproduced a good article that is both serious and humorous as the same time. It shows that the reported losses are only a few hundred billion dollars, but the actual loses are in the trillions of dollars.
These losses will be reported a little at a time, so as to cause the least amount of daily disruption of the markets. But when they continue day after day, month after month, there will eventually be a Day of Reckoning.
The conclusion of the article is that when these true losses are known to the general public, the price of gold will skyrocket. Of course, the same could be said about many other metals and commodities.
Dr. Stephen Jones