Just reading about what I mentioned a few years ago coming to the fore again: I wrote "If you have it, not on paper, if you have physical gold, hide it"...
"The same greedy disaster that has befallen the money market is happening to gold as well (and probably everything else) much as banks never have cash anywhere near the amount of money they lend, so too bullion banks hold only a tiny proportion of the gold they sell."
That was scary enough but the moment now seems to have arrived, maybe... ZeroHedge: "The Death Of The Gold Market", OK, so it's based on uno solo informe of ADMISI's Paul Mylchreest [Full 60 page Report: PDF] stating that the "'float' of physical gold in London (excluding gold owned by ETFs and central banks) has recently declined to +/- zero.". The ETFs mentioned [edit]: "Gold ETFs provide investors with exposure to gold by tracking the price changes of gold. This allows investors to profit from gold price changes without having to own the physical asset."...better if it is physical: if you own it you should be able touch it; put it under the cellar floor (and beware the gold-tungsten adultery). Just checked when I suggested buying big - Oro offers opportunity - 10 years exactly; after the initial jitters it's been all good. But moving will cost a fortune!
No comments:
Post a Comment