On Cyprus, David Beahm notes: "Nothing is safe anymore"
"Housing data and consumer confidence both missed expectations and this during a period of time when the Fed is printing money," said David Beahm
, executive vice president at precious-metals
investment firm Blanchard & Co.
"This data will be beneficial to gold
in the future as the Fed has no choice but to print in order to keep the economy somewhat afloat." ...
Looking ahead, Beahm said Cyprus will likely be in play for a long time.
"A new precedent has been set," Beahm said. "Taxing deposits just goes to show how desperate things have gotten and that nothing is safe anymore. If you don't hold it, you don't have it."Read Article