Distressing as it is, I think Roubini is correct. So far, the governments have only tried to paper over the structural faults in the financial system. Nothing has actually been fixed. In addition, I believe he hit it bang on with his comment about deleveraging.....nationalizing debt does not make it disappear, it only redistributes it.

That being said, this portends well for gold, which should put upward momentum to the SMH share price in the medium to long term. Let's get that mine producing to get some income!

Trainboy