Even gold agnostics must never say never!

Where does one hide if bond markets everywhere look risky at the same time? In another excellent article by Ambrose Evans-Pritchard at the UK Telegraph, sent to us by a friend, Ambrose summarizes the latest very scary warnings from the Bank of International Settlements about sovereign debt crisis [our emphasis]:

“’The question is when markets will start putting pressure on governments, not if. When will investors start demanding a much higher compensation for holding increasingly large amounts of public debt? In some countries, unstable debt dynamics -- in which higher debt levels lead to higher interest rates, which then lead to even higher debt levels -- are already clearly on the horizon.’