A loss of faith in paper currency and a bullish sign for the metal by the banks who clearly think this will continue.... http://www.ft.com/cms/s/0/53163d56-7584-11df-86c4-00144feabdc0.html The growing interest in gold among investors worried about the global economy and Europe’s sovereign debt crisis has led to a shortage of long-term storage space. Bankers said that vaulting had become highly... [more]
A loss of faith in paper currency and a bullish sign for the metal
by the banks who clearly think this will continue....
http://www.ft.com/cms/s/0/53163d56-7584-11df-86c4-00144feabdc0.html
The growing interest in gold among investors worried about the global economy and Europe’s sovereign debt crisis has led to a shortage of long-term storage space.
Bankers said that vaulting had become highly profitable. Rising bullion prices translate into higher storage fees, which are usually calculated as a percentage of the gold price. Gold prices this week rose to a nominal record of $1,251.20 a troy ounce, up 14.5 per cent since January. On Friday, bullion traded at $1,226.
“Physical gold is being sought more than ever and that is causing all sorts of strains,” said Peter Hambro, chairman of Petropavlovsk, the gold miner.
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Response by stevejhx
about 16 years ago
Posts: 12656
Member since: Feb 2008
And let's abolish the Fed while we're at it!
RS, you really, really do need to read the economic history of the 19th century - booms, busts, inflation, deflation, all caused by the gold standard.
Or check out the inflation-adjusted price of gold over time.
RAND PAUL! RAND PAUL! RAND PAUL!
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Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009
Right now fiat money is a bust.
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Response by Riversider
about 16 years ago
Posts: 13573
Member since: Apr 2009
Since 2000 Gold has looked pretty good against the dollar and U.S. CPI. Id have to say inflation adjusted gold over time is looking pretty good, especially if its a gold watch.
And let's abolish the Fed while we're at it!
RS, you really, really do need to read the economic history of the 19th century - booms, busts, inflation, deflation, all caused by the gold standard.
Or check out the inflation-adjusted price of gold over time.
RAND PAUL! RAND PAUL! RAND PAUL!
Right now fiat money is a bust.
Since 2000 Gold has looked pretty good against the dollar and U.S. CPI. Id have to say inflation adjusted gold over time is looking pretty good, especially if its a gold watch.