"Investors can also get exposure to gold through the MarketSage Gold Bullion CD, a five-year certificate of deposit from EverBank Financial ... that guarantees depositors' principal and offers potential returns equal to the percentage change in the average spot price of gold over a five-year period. The bank also offers an online account that lets customers purchase gold or silver", WSJ, 10 November.
Wait a minute, didn't goldsmiths in England do this before they were permitted to engage in fractional reserve banking? Didn't they issue gold and silver certificates? Wait a minute, didn't Uncle Sam issue gold and silver ceritificates? Are EverBank's certificates better than Uncle Sam's? If not, could you sue EverBank? Stay tuned, the gold standard is returning piecemeal.
Wait a minute, didn't goldsmiths in England do this before they were permitted to engage in fractional reserve banking? Didn't they issue gold and silver certificates? Wait a minute, didn't Uncle Sam issue gold and silver ceritificates? Are EverBank's certificates better than Uncle Sam's? If not, could you sue EverBank? Stay tuned, the gold standard is returning piecemeal.
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