China's banks are an accident waiting to happen to every one of us

If you've been following since the beginning of the blog, you'll see I have not gone more then three days without owning Gold. I have made profits on it after being down significantly and I have made profits after it had been up significantly...

I own it because I consider it to be a hedge against some event that we have yet to see. With everything from Bernie Madoff to mortgage-backed securities...I became more of a cynic then I already was. So, check it this scary story from the Daily Telegraph of the UK.

(...Read this and see if you find it ironic that the Chinese government complains about the U.S.'s lack of fiscal responsibility and the need for a more stable currency.)