Monday, October 22, 2012

UK more vulnerable to systemic banking tremors than Ireland

That's gross debt, not net debt; but it's the equivalent of balancing two squirming elephants instead of two oranges. Thank you, banks.

Data from: Graham Summers, Phoenix Capital Research.

INVESTMENT DISCLOSURE: Mostly in cash (and index-linked National Savings Certificates), but now planning to build up some reserves of physical gold via regular saving.

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