here is an interesting comment on gold,from Albertarock,posting on Daneric's board and another reason why it may be best not to get too bearish
Several months ago I'd mentioned that Mexico had bought 110 tons of gold. Turns out they didn't take possession of it though. Good thing they didn't ask for possession because it turns out that that gold didn't even exist. It is becoming more and more apparent as all the gory details emerge, that the gold bears are at extreme risk should more than a couple of these bigger buyers ask for delivery at the same time. Because if that were to happen, somebody isn't going to get their gold. Not at today's price. Possibly not at any price. The member banks of the LBMA (London Bullion Market Association) sell gold to clients, then offer to hold it for them and charge a hefty fee to store it. Of all the gold they have sold and supposedly actually have physical possession of, in storage, do you know what percentage they 'really have'? 1% They're supposed to have 100% of it. They have 1% of it. How's that for a recipe for disaster?
http://seekingalpha.com/articl...
Several months ago I'd mentioned that Mexico had bought 110 tons of gold. Turns out they didn't take possession of it though. Good thing they didn't ask for possession because it turns out that that gold didn't even exist. It is becoming more and more apparent as all the gory details emerge, that the gold bears are at extreme risk should more than a couple of these bigger buyers ask for delivery at the same time. Because if that were to happen, somebody isn't going to get their gold. Not at today's price. Possibly not at any price. The member banks of the LBMA (London Bullion Market Association) sell gold to clients, then offer to hold it for them and charge a hefty fee to store it. Of all the gold they have sold and supposedly actually have physical possession of, in storage, do you know what percentage they 'really have'? 1% They're supposed to have 100% of it. They have 1% of it. How's that for a recipe for disaster?
http://seekingalpha.com/articl...
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