Originally posted by kosmicjack
reply to post by behindthescenes
Exactly. It's all just a big shell game or ponzi scheme. The banksters will do whatever it takes to prop it up and keep it going, but eventually the
bill will come due. July...August...September, the point is the game is up.
Thank you, Kosmic. Yes, and the creator of this scheme was none other than Goodl Ol' Alan Greenspan. History will demonstrate how stupid his
policies were. Economic expansion at the expense of the dollar? How freakin' nearsighted.
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Originally posted by jfj123
And don't forget something awful was supposed to happen on 08-08-08 and guess what? NOTHING....
Something awful DID happen on 8-8-8 - the Russia/Georgia incident. The beginning of a new cold (hot?) war with Russia
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this thread is the nearest thing i can find that has something to do with this 'observation'
today is Wed, 8 Oct '08, the Asian & European markets are going parabolic...and Gold is up $30 to around $915.
i see a disconnect-> spot Gold is up past $900+ but every major Gold mining producer stock is off 20-30%.
i see a panicky rush to buy existing, physical gold.
And ETFs are the easiest way to have a (singular removed) tangible grasp on physical gold, and a panicky portion of investors are bidding high prices
on the illusion of wealth preservation in buying these Gold ETFs.
i say, be careful if your considering buying one of these (now expensive) Gold ETFs... because-> the purchaser only has the veracity of the Gold ETF
that there is the required physical bullion to back up the price of the ETF.
{keep in mind that the ratings agencies gave all the toxic RMBS the 'AAA' rating when the trash was only worth a 'd-', junk bond rating}
If i recall correctly, the two major Gold ETFs out there, have physical bullion stored in the MS (morgan stanley) GS (goldman sachs) gold vaults.
now if the credit markets are seized up because banks won't lend to each other....
then i have to wonder out loud, do other banks & investment houses know that all the supposed Gold bullion in the vaults that underlie the value of
the ETFs... is in reality just 'promises' of future Gold delivery ?
without planting false fact in your mind, i'm just pointing out the 'what if' situation.
I'm sticking with the gold mining stocks i still own, as having the truer real value f today's Gold, as opposed to the Gold ETF documents
hope this helps, thanks
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