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Putting Trust in the Cloud

Nov 25, 2009, 20:03 (1 Talkback[s])
(Other stories by Brian Proffitt)

"No need to look at the URL field; you haven't accidentally landed on an investment site. Trust me, I'm the last guy you want money advice from. But something's going on with the gold market right now that could be analogous to a potential problem with cloud computing.

"What's happening is this: in larger cities where large corporate banks have massive vaults, many retail customers who have been storing their precious metals in their bank's vault are being asked to move their property to make room for the bank's larger customers' gold holdings. It is more profitable, it seems, for a bank to store one ton of gold for one customer than one pound of gold each for 2,000 clients.

"So, instead of honoring the smaller retail clients' needs, these banks are requiring the retail customers to find new homes for their gold."

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