A Special Kind of Asset

“An asset is someone else’s liability” Something to think about. Gold may only be a pet rock for Wall Street Journalists, yet gold has no liability.  Why would pet rocks be commingled on the same line item as foreign exchange futures contracts?    Because gold has inherent value and no counterparty as in a Forex contract.   Maybe, why pet rocks seem out of place on a Forex line item.    Gold is NOT a barbaric relic nor a pet rock.   Gold is Tier 1 Capital.   This pet rock is a special kind of asset.   An asset that is absent a liability.    Wall Street best pay attention.
“The world will soon wake up to the reality that everyone is broke and can collect nothing from the bankrupt, who are owed unlimited amounts by the insolvent, who are attempting to make late payments on a bank holiday in the wrong country, with an unacceptable currency, against defaulted collateral, of which nobody is sure who holds title.” … Anonymous

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