King World News is as usual providing some stunning information. http://kingworldnews.com/kingworldn...he_LBMA_Gold_Price_Fixing_Scheme_Is_Over.html and what that move of gold into Tier 1 asset might confound those people expecting new lows come the next crunch. Worthwhile reading the whole article and keeping an eye on King World News - they have some very good commentary.
Interesting article ... thanks. The other reason for the big plunges in 2008 was the leverage in paper assets ... e.g. hedges, EFT, futures in gold ... which is many time the size of the physical market. The need to raise money quickly in 2008 resulted in the "paper gold" being sold to cover other losing positions. I don't know how much physical gold was actually sold by the banks ... probably very little, as they would have hedged their own gold. In fact they probably helped the down-legs in the market by heavily selling shorts, so as to profit as they squeezed their clients when calling in margin loans !! Which then allowed the banks to also pick up any physical gold which was sold on the cheap, as it was flushed from the weaker hands. I do wonder whether there will be another short sharp plunge in the gold price over the next few weeks, so the big players can buy up more physical for their Tier 1 needs. Hopefully us little players can purchase a bit more as well at the better price. However, as the article implies, this plunge may not happen due to the heavy buying by China, Russia, Middle East , etc, which is supporting prices.
And how many more 'new stackers' do we have around the globe since 08--09? People that have learned what really happened then and what is eventually going to happen to the debt based fiat paper system...I'd say alot more.... and they will all eventually want the phys when it SHTF.... there's just not enough to go around. Oh and now it's to be Tier 1 as well......scary!
My favourite quote from the article Sounds like behaviour if one is experiencing high inflation (lock in prices now), or expecting hyperinflation (loss of faith in currency).
You should be querying who and what is releasing this apparent news. Bit like, "the world is flat after all". The turtle and elephant myth, both are animals, both are nonsense, both lies. You only eat what you are persuaded to eat.
