For the first time since the Fed and similar destructro-devices were founded, individuals now own more gold than central banks. Old gold vaults are being reopened. Others are being built. Not all the venerable ones can be restored, however. A private vault built for J.P Morgan in 1902 is now a NY steakhouse. But such a terrible transformation may never happen again.
8:46 am on October 4, 2010
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