“Fragility is the quality of things that are vulnerable to volatility.”
Nassim Taleb
“Life is a school of probabilities.”
Walter Bagehot
“We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it.”
Sir Eddie George, Bank of England, September 1999
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