Part 2/7:
McLeod likens the behavior of the bullion banks to that of organized crime, suggesting that their operations are shrouded in secrecy and driven by profit motives rather than market stability. According to him, the current gold crisis is not merely about increasing demand for gold as a hedge against economic uncertainty but a reflection of a deeper systemic issue in the banking sector. He argues that the acrimony between foreign stakeholders and the bullion banking system suggests that many non-Western countries are resistant to being coerced into propping up the dollar through gold transactions.