Abstract
Many people were surprised that gold didn’t rise during the most severe stages of the financial market crisis of 2008, but actually fell between March 2008 and year end. After all, the complete collapse of the financial system loomed. The consequences would have been grave for the real economy as well. There was not only the threat that one would one day stand in front of an ATM which no longer released any money, but also that deposits in accounts would evaporate, that the payment system would no longer work and that, in the end, the finely spun latticework of our economy would have been rendered asunder.
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© 2013 Dimitri Speck
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Speck, D. (2013). The Financial Market Crisis of 2008 and the Euro Crisis of 2011. In: The Gold Cartel. Palgrave Macmillan, London. https://doi.org/10.1057/9781137286437_24
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DOI: https://doi.org/10.1057/9781137286437_24
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-44934-7
Online ISBN: 978-1-137-28643-7
eBook Packages: Palgrave Economics & Finance CollectionEconomics and Finance (R0)