posted on Feb, 19 2009 @ 07:18 PM
Originally posted by Spinflow
So the question would be.. if the money has no value and we are dealing with monopoly money here shortly of no value. (not saying it has value now)
What will be the standard that will give merit or value to whatever we will be trading down the road. For example if we are to use a new currency
will that currency be backed by Gold? Silver? If so wouldn't those items be going through the roof at this time?
With the rich players in the market I can't see how they would not be pouncing on every ounce of gold and or silver they could at this time.
Note I haven't looked at the volumes of sales in gold and silver.. just assuming since I haven't heard about some huge purchase, no one is trying to
corner the market at this time.
Gold is doing quite well at the moment...by many standards it *is* "going through the roof*:
Article: "Gold Shines Brighter than Ever" :
Article: "Gold Demand Surges by One-Third to $100 bn"
For the more conspiracy-minded, there are increasing rumors that there is an ongoing "dislocation" between the so-called "official" spot price for
gold that is quoted in newspapers, etc. and the actual price, which is in reality higher. So, the idea goes, if you want to take ACTUAL PHYSICAL
POSESSION of gold you will find yourself paying significantly more than the "quoted price" (with the extra in the form of nebulous "handling
fees," "service charges," and whatnot).
Most people who are "buying gold," it turns out, are not taking actual posession of the gold they "buy." They are "buying it" in the form of ETF
funds, paper "certificates of deposits," and commodities futures. In other words, more paper and therefore more LIES. If you try to turn in your
certifcates and get the gold that supposedly back them, many have reported, you will find yourself facing a lot of hemming and hawing and
stuttering/mumbling by the fund manager, or tied up in paperwork, etc. This is because, obviously, there is more paper than there is actual gold
backing it...investors are getting ripped off.
I last bough physical gold about 1 week ago. When I went in to do so, the bars I first wanted to buy were not available at any price. The dealer
finally sold me a smaller set of bars and told me there was a limit per person per day since demand was so strong. Of course I also paid more than
so-called "spot prices" quoted on the net in the form of service charges and so forth (but I did so anyway)> I don't t live in the US but I hear
the situation is even worse there. Lots of slick-talking precious metal dealers who will be happy to take your money in exchange for this or that
certificate of "ownership," but they will try to make it difficult for you to buy the real thing that you can actually hold in your hand and take
home with you.