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Tick-Tock, Northern Rock

by Adrian Ash
Financial Sense

Ermine for idiots, profits for bankers. And for savers? Risk…

EVEN a stopped clock tells the right time twice a day, writes Adrian Ash at BullionVault.

And 10 years ago this week, the minute-hand slowly turned towards a dark midnight which gloomy gold bugs like us had long predicted. We like to flatter ourselves that we saw it coming. Mostly because we did.

But we take very little pride in it today. Because of the coming of the 2007 credit crunch…and the global financial crisis it announced…was plain to see. If only you looked.

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