by Egon Von Greyerz, Gold Switzerland:
The risk of holding cash or gold in a bank is increasing continuously. Later on I discuss the difficulties bank clients encounter in taking money or gold out of their bank.
The word risk can be traced back to Greek via Latin to root or cliff. These were the the dangers that Odysseus encountered when he sailed between Scylla and Charybdis (a rock and a hard place). So root and cliff were the “risks” that sailors encountered in the sea. A more modern interpretation of risk is “Identification and evaluation of dangers that could prevent us from reaching our objectives”.
Very few have the ability to identify the enormous risks that we are all facing, on a global scale. And for the very few who can identify the risks, not many have the ability to evaluate them or to take protective measures.