I dont believe they have any gold. I think its all leased out. The only stuff left in their vaults is owned by other countrys and even then its just gold painted tungsten
Exactly what I meant. If other countries have a lack of confidence in the US$, ie. if it defaults. Then one would think they would be unloading US$ and debt now for what ever price they can get. Causing the gold and therefore theoretically the silver price to increase.
I think they are claiming that whole 'possession is 9/10ths of the law' spiel. http://nsnbc.me/2013/04/18/federal-...-audit-of-germanys-gold-held-in-u-s-vaults-2/
Over the period 2011-2013(projected) central banks bought 1400 tonnes gold. Over the period 1997-2010 central banks sold 5671 tonnes gold. The 2 biggest gold Exchange Traded Funds with a physical stock: http://us.ishares.com/product_info/fund/overview/IAU.htm 175 tonnes gold http://www.spdrgoldshares.com/usa/#data 891 tonnes gold. These ETF's were the biggest gold sellers of 2013, they sold many hundreds tonnes. So actually, central banks were a, maybe THE, major price driver, they pushed the price down before 2011 and pushed it up after 2011. What 'confidence' are we then talking about? The confidence central banks have in gold? Haha, they sell low and buy high. Their confidence is just irrelevant.
People became smarter than trapping once again in a scaremongering story. And that's good. Delivers more ounces until the next crisis / inflation wave.
Perhaps, although it seems to me everyone is on auto pilot. Shouldn't people be screaming from the roof tops, " The US is about to default, buy Gold"? I don't know it doesn't make much sense to me. Perhaps we will have to wait for them to default before price improvements. I just don't get it, every day a default looks more likely yet no movement in price.
