If money is no longer backed by gold, why are the central banks trading gold?
If you actually had any gold, even as jewelry, would a bank buy it from you?
I've done a little search, google came up with 255,000 sites on this subject, not many to be honest (search term, selling gold to banks... result
From experience, it's not that easy to sell gold for its actual value. A gold coin may be bought by a bank at face value only (which is crafty) but a
jeweler will buy gold at its scrap value???
How can gold have scrap value?
This jeweler example is based on UK shops. I have no idea how this works in the rest of the world.
Gold is gold. Why can it not be traded as such through the entire financial system, especially banks.
I've never tried, maybe others have, but will a bank buy your gold (be it jewelery, coins or nuggets) for its actual value?
If banks do not buy gold this way, then why are they in business?
What's the point of a value on gold?
Looking at the pages from my search result above, it appears you must use proper gold brokers. Now there's not too many of those on the high
Why is it necessary to use a broker, when a bank is the financial hub for gold (supposedly)?
Seems all cock-a-hoop to me..
Banks relied on gold to support the cash, now they don't, yet they still buy and sell gold, but ordinary Joe Bloggs can't make tuppence from his
stash of long gone Aunty Mabel's jewelery collection.
I've read some of the other threads in ATS about gold and some have said that ammunition, food and clothing will have more value than gold in a
crisis, which IMO is true, so why the importance of gold as a wealth prospect when you can't readily trade in it?