Paul Tustain, the Director of BullionVault, recently pointed out that the real cost of Northern Rock to the British taxpayer is $10,000 per household. We view this as utterly ridiculous, that taxpayers money is being used to prop-up a private business, but we have voiced our opinions on the Northern Rock saga in a previous article.

So although Northern Rock may cost over £100 billion, the bigger cost will be the collapse of the fiat currency system (read more…)