They did it again last night. “Someone”, not looking for the best price for their gold, flushed 13,000 contracts through Gold – amounting to over $1.5 billion notional and knocked gold down to $1,137 per ounce, the lowest level since April 2010. The timing of the dump was right as Japanese trading broke for lunch.
What investor purposely dumps $1.5 billion of an investment in one massive trade? The answer is that no investor would ever do such a thing. This is all part of the central banker plan to prop up their floundering monetary machinations. They are running a confidence game/ponzi scheme. They need people to believe the USD is strong and resilient. Higher gold prices reveal their failure. Therefore, central banks and their banker owners will do everything in their power to suppress the price of gold.
From a technical standpoint they have succeeded in breaking through the $1,200 resistance level and hope the market will drive the price to support at $900. I hope they succeed. The Chinese and Russians will continue to accumulate physical gold and silver, while the US drowns in fiat paper. Times they are a changin. The ruling oligarchs will continue to play their financial games until the house of cards collapses. I’ll slowly accumulate physical gold and silver as they drive the price lower.
American Financial Markets Have No Relationship To Reality
Paul Craig Roberts and Dave Kranzler
As we have demonstrated in previous articles, the bullion banks (primarily JP Morgan, HSBC, ScotiaMocatta, Barclays, UBS, and Deutsche Bank), most likely acting as agents for the Federal Reserve, have been systematically forcing down the price of gold since September 2011. Suppression of the gold price protects the US dollar against the extraordinary explosion in the growth of dollars and dollar-denominated debt.
It is possible to suppress the price of gold despite rising demand, because the price is not determined in the physical market in which gold is actually purchased and carried away. Instead, the price of gold is determined in a speculative futures market in which bets are placed on the direction of the gold price. Practically all of the bets made in the futures market are settled in cash, not in gold. Cash settlement of the contracts serves to remove price determination from the physical market.
Cash settlement makes it possible for enormous amounts of uncovered or “naked” futures contracts — paper gold — to be printed and dumped all at once for sale in the futures market at times when trading is thin. By increasing the supply of paper gold, the enormous sales drive down the futures price, and it is the futures price that determines the price at which physical quantities of bullion can be purchased.
The fact that the price of gold is determined in a paper market, in which there is no limit to the supply of paper contracts that can be created, produces the strange result that the demand for physical bullion is at an all time high, outstripping world production, but the price continues to fall! Asian demand is heavy, especially from China, and silver and gold eagles are flying off the shelves of the US Mint in record quantities. Bullion stocks are being depleted; yet the prices of gold and silver fall day after day.
The only way that this makes sense is that the price of bullion is not determined in a real market, but in a rigged paper market in which there is no limit to the ability to print paper gold.
The Chinese, Russians, and Indians are delighted that the corrupt American authorities make it possible for them to purchase ever larger quantities of gold at ever lower prices. The rigged market is perfectly acceptable to purchasers of bullion, just as it is to US authorities who are committed to protecting the dollar from a rising price of gold.
Nevertheless, an honest person would think that the incompatibility of high demand with constrained supply and falling price would arouse the interest of economists, the financial media, financial authorities, and congressional committees.
Where are the class action suits from gold mining companies against the Federal Reserve, its bullion bank agents, and all who are harming the interest of the mining companies by short-selling gold with uncovered contracts? Rigged markets–especially on the basis of inside information–are illegal and highly unethical. The naked short-selling is causing damage to mining interests. Once the price of gold is driven below $1200 per ounce, many mines become uneconomical. They shut down. Miners are unemployed. Shareholders lose money. How can such an obviously rigged and manipulated price be permitted to continue? The answer is that the US political and financial system is engulfed with corruption and criminality. The Federal Reserve’s policy of rigging bond and gold prices and providing liquidity for stock market speculation has damaged the US economy and tens of millions of US citizens in order to protect four mega-banks from their mistakes and crimes. This private use of public policy is unprecedented in history. Those responsible should be arrested and put on trial and they should simultaneously be sued for damages.
US authorities use the Plunge Protection Team, the Exchange Stabilization Fund, currency swaps, Federal Reserve policy, and purchases of S&P futures to support an artificial exchange value of the dollar and to provide the liquidity needed to support stock and bond prices, with the latter so artificially high that savers receive negative real interest rates on their saving.
The authorities have created a financial system totally out of sync with reality. When the authorities can no longer keep the house of cards standing, the collapse will be extreme.
It is a testament to the complicity of economists, the incompetence of financial media, and the corruption of public authorities and private institutions that this house of cards was constructed. The executives of the handful of mega-banks that caused the problem are the people who are running the US Treasury, the New York Fed, and the US financial regulatory agencies. They are using their control over public policy to protect themselves and their institutions from their own reckless behavior. The price for this protection is being paid by the economy and ordinary Americans – and that price is rising.
The latest orchestrated takedown of the gold price is related to two events (see the graphs below). One is that the Federal Reserve decided to boost the upward spike in the dollar’s exchange rate from the Fed’s announcement of the end of Quantitative Easing (QE). The Fed’s announcement of the end of dollar creation in order to support bond prices lessened the rising anxiety in the world about the US dollar’s value when the supply of new dollars continued to increase faster than the US output of goods and services. The Fed reinforced the boost that its announcement gave to the dollar by having its bullion bank agents drive down the gold price with naked short-selling.
Naked short selling was also used to offset the effect on the gold price by the Bank of Japan’s surprise announcement on October 31 of a massive new program of QE. Apparently, the Bank of Japan either has been pressured by Washington to inflate Japan’s currency in order to support the dollar’s value or is applying a policy based on the Keynesian Phillips Curve that 2-3% inflation stimulates economic growth. Japan has been in the economic doldrums for a long time and is now reduced to pre-Reagan “snake oil” prescriptions in a desperate attempt to revive its economy.
Japan’s announcement of infinite money creation should have caused the price of gold to rise. To prevent a rise, at 3:00 AM US Eastern Time, during one of the least active trading periods for gold futures, the electronic futures market (Globex) was hit with a sale of 25 tonnes of uncovered Comex paper gold contracts, which dropped the gold price $20 dollars. No legitimate seller would destroy his own capital by selling a position in this way.
The gold price stabilized and moved higher, but at 8 AM US Eastern Time, and 20 minutes prior to the opening of the New York futures market (Comex), another 38 tonnes of uncovered paper gold futures were sold. The only possible purpose of such a sale is to drive down the price of gold. Again, no legitimate investor would unload a huge amount of his holdings in this way, thereby wiping out his own wealth.
Allegedly, the United States is the home of scientific economics with the predominance of winners of the Nobel Prize in economics. Despite these high qualifications, the price of gold, silver, equities, and bonds that are set in the US bear no relationship to economic reality, and American economists do not notice.
The divergence of markets from economic reality disturbs neither public policymakers nor economists, who promote the interests of the government and its allied interest groups. The result is an economy that is a house of cards.
For additional reading see: http://investmentresearchdynamics.com/the-system-is-terminally-broken/
Personally, I’d like to see it at $300 again.
I need a couple of pieces of new jewelry.
😉
Put yourself in the mind of one of our twisted shitfuck oligarchs. What would you do? I’d cram down the price of paper gold as low as possible to accumulate physical as cheaply as I could. Only then do you destroy the currency so you can go on a productive asset bargain sale binge with your valuable gold against worthless dollars. The only question really is how low do you drive it before the end game?
A sad situation indeed, they print up all the fiat they want for themselves and bankster friends, and use some of it to supress the price of real money. They are accountable to no one, arrogant laughing swill.
The sheeple, of course, go along with it and the sane people trying to protect themselves get the shaft.
What a fucking corrupt mess.
For once I agree with a post on gold.
The gold market, like the stock market and the bond market, has essentially zero connection to supply and demand.
Prechter’s people coined the term “All the same market” probably a decade ago, referring to how giant sloshing flows of credit liquidity tend to cause markets that don’t usually trend together to all rise and fall together.
In general, stocks, bonds, commodities, real estate and metals have all sloshed higher for decades. Some markets within this lagged, some led, some rolled over earlier and some (stocks & bonds) later, but in general everything is much higher now than the early 1970’s, which was when the Great Credit Mania really began.
I, too, want to see gold drop toward $1000. I still believe that the future is one of debt collapse causing historic levels of deflation, as the “hydrogen gas” of volatile credit burns away and this Hindenburg of an economy crashes to the ground in flames.
If the perception of wealth (and money supply) crashes like that, EVERYTHING should collapse in price back toward where the mania started. If this were to actually occur, gold could trade below $100/oz.
I wrote “could” for a reason.
The gold market is small. If the relatively few solvent people panic INTO gold somewhere along the line, the price per oz could stop declining even as everything else descends toward its targeted nadir.
I think establishing a position in gold ~$1000 may make sense. If it pops from there, fine, if it pops and then (in 2020 give or take a couple years) rolls over and heads way south again, well, one shouldn’t put money into gold that one might need later to buy food or heat.
I don’t think we’re heading for TEOTWAWKI where barter returns and gold is money. I do think, however, that the compound inflation of the past 50 years is going to violently reverse someday soon, affording an opportunity to buy some stuff that doesn’t spoil, is portable and less easily taxed into the ground (like real estate) and can act as an anchor should our monetary authorities truly unleash a hell-storm of banknote inflation after deflation has run its course.
I’ve decided, after reading this, that I’ll simply value my physical silver coins at where I bought them in 2009– $17…. + an exhorbitant premium close to 30% less a round off to $20 per mounce. I’m not putting any more write-downs on my own books because I have no intention of selling those coins for anything less than a $20 bill now.
Central Fund of Canada is selling at a -10.1% discount yesterday. 50% Silver / 50% Gold
Central Gold Trust is selling at a -10.7 % discount yesterday. 100% Gold
Taking what TC said above a little further.
Suppose the Chinese are the ones selling the paper gold and accumulating physical gold as cheaply as they can get it. Once the supply/demand catches up to them and the price of physical gold starts to go up, they cover their paper positions with the excess USD’s that they are holding.
TC & dc, the gold charts are showing the potential for a triple bottom in the gold price. If this holds, and the price of gold reverses, it will mean that the biggest part of the deflationary process has been staved off for now, and we can expect gold to surge to new all-time highs. Will we finally see more of the inflation all this would have caused under normal circumstances? The current canaries to watch are #1) Oil price trend and 2) precious metals price trend. The Fed experiment continues, and the question remains the same — how much of our vaporized financial assets have been successfully replaced? Will there be a ‘new money’ effect hitting the economy, or will the black holes finally prevail? I believe we are at one of Gordon Long’s ‘tipping points’.
*Breaking Alert: US Mint SOLD OUT of Silver Eagles! 2 Million Coin Surplus Sold in Under 2 Hours!
by The Daily Coin · November 5, 2014
The US Mint has just issued an alert to Primary Dealers across the US that Silver Eagle inventories, which according to the Mint began today at over 2 million ounces, are now SOLD OUT as of 12:30pm EST.
The Mint has reportedly sold through over 2 million ounces in less than 2 hours!
It appears that the $15.50 level was the line that broke the camel’s back regarding physical inventories, as physical demand has simply EXPLODED on this morning’s futures dip below $15.20.
– See more at: http://thedailycoin.org/?p=10781#sthash.7vtDJgtO.dpuf
“The gold standard makes the money’s purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.”
Ludwig von Mises
Bob, I don’t see what you’re seeing in the charts. The double bottom at the 1200 level has failed. Next big support looks to me in the 1000 range. I’ll buy more if it gets there.
TC, the focus is on the $900 – $1,000 area — $950 +/- . If this area holds, it should mark the end of the decline from the $1900s, with a multi-year up wave to follow.
Submitted by GoldCore
“Global Scramble” For Silver – Coins “Hard To Get,” “Premiums Likely To Jump”
Silver has had a torrid time in recent months and has fallen nearly 40% since July. In less than four months, it is down from $21.40/oz to $15.45/oz today. Silver is 70% lower since reaching over $49/oz in April 2011. The selling has accelerated in recent days and silver has fallen from $17.20/oz on October 28 and is down 12% in the last week.
There is blood in the streets of the silver market with futures speculators long silver, again having their heads handed to them on a plate and incurring sharp losses. However, the silver sell off has again seen a global scramble for physical silver.
Silver in USD – Year to Date 2014 (Thomson Reuters)
In recent days, there has been a global scramble to acquire silver bullion coins and bars after the price falls according to Reuters. Maple Leaf silver coins are difficult to acquire according to bullion dealers, with the Royal Canadian Mint on allocation from September. There is a concern that supply times will increase and premiums are likely to jump according to Reuters.
“A tumble in silver prices to four-year lows has triggered a global scramble by consumers to purchase silver coins and bars, as the spread between the price of the metal and gold reaches its widest in five years.
Retailers and distributors in Asia and the United States said they were struggling to get supplies of items such as Canadian Maple Leaf silver coins.
While demand for silver has been strong over the last few months, retailers say buying interest soared in recent days as the metal fell towards its lowest since 2010, along with gold.
Demand for silver coins and bars accounted for more than a fifth of total demand in 2013, according to a report by the Silver Institute. A sustained jump in demand should support silver prices, currently at just over $15 an ounce.
The price of silver is currently around 74 times cheaper than gold – the biggest spread since early 2009. Due to its greater affordability, silver sales tend to outstrip gold in volume terms and attract a lot more retail buyers.
The Royal Canadian mint had started allocating, an industry term meaning rationing, its popular Maple Leaf silver coins in September in response to high demand, according to a spokesman.
With the allocation of silver coins in place, the mint continues to produce and take orders for 2014 coins with no anticipated stoppage in shipments, he said.
But retailers are already finding it hard to get hold of the mint’s products as they sell out their existing stock.
Some Asian dealers said they have had to pull Maple Leaf coins from their lineup until they get the mint’s 2015 products.
In mid-April 2013, silver lost nearly a fifth of its value in two days, tracking a rout in gold, prompting a rush to snap up both the metals at a bargain price.
While the Royal Canadian Mint is rationing silver coins, it has no such system for gold.
The U.S. Mint is not allocating silver or gold at the moment. In June, the mint lifted its ration on silver American Eagle coins that had been in place since January last year as strong demand had depleted silver coin blanks.
The U.S. Mint sold 1.4 million ounces of silver American Eagle coins on Friday alone, the highest daily sales since Jan. 13 when the new 2014-dated coins first became available. October was the fourth highest month of silver eagle sales ever.
The Perth Mint, which runs the only gold refinery in No. 2 gold producer Australia, said it was not facing any supply issues as it usually launches a new line of products from September, unlike the other mints.
“We built up a lot of stock for those releases. So we have quite a few months worth of stock,” said Neil Vance, wholesale manager at the Perth Mint.
“If this had been a different time of the year, it would have been a different story.”
Reuters
Silver in USD – 5 Years (Thomson Reuters)
We have seen a significant uptake in demand for silver this week both for maples and philharmonics and for larger 1,000 oz bars. Silver maples are being snapped up by U.S. and Asian buyers as the premiums are lower than that for silver eagles. Silver philharmonics continue to be popular in Europe as they too are less expensive than the eagles and have a similar premium to maples.
Silver coin demand is for both delivery and storage, while bar demand is primarily for bullion storage in Zurich and Singapore. The demand is broad based and coming from both retail investors and indeed high net worth.
Silver is down 70% in less than four years as stock and markets have surged to record highs. The gold: silver ratio has surged to a peak of 75.4 this morning, its highest since early 2009, as silver underperforms falling gold. Silver is great value today versus stocks and bonds and indeed versus gold. The smart money accumulates on dips and buys low, to sell high.
It took me a few years, but in the end I was right.
All the $3000 dollar an ounce prognosticators can blow me. I laughed at $1800 an ounce and said watch your asses. Well, did you, punks? I said sell, well did you, punks?
Watch out below. Thar she blows.
Gold is good for jewelry and hoarding.
Admin – the Perth mint got its ass handed to them this year. They posted a big loss.
I think silver is a much better bet than gold – plus it has real world uses.
Article-” Again, no legitimate investor would unload a huge amount of his holdings in this way, thereby wiping out his own wealth” Spurious Reasoning.
If one had the capacity, one could dump paper gold in this exact manner and immediately buy back in acquiring more paper ounces or physical than sold, if the price was lowered.
If the oligarchs retain petro dominance and reign in QE, the price could be pushed much lower.
Lloph- “It took me a few years, but in the end I was right. ” This is not the end. You can still be right, though. Many of us who purchased higher did so out of fear, well founded fear. The derivatives mess remains, and has grown stronger, meaner. I am a fan at these prices for sure, and lower is ‘back the truck up’ time. Your Silver call is money, 72:1 ratio and all of the ever expanding industrial applications….nothing barbarous about it, unless solar panels and everything medical are barbarous.
ottomatik – I had a bit of fun with you the other day. You responded with some good stuff.
I like your comment on this thread. I think, still, gold is a waste. It is a hedge, but that is about it. I do like silver for the reasons you echo. It has real world worth, and it is very undervalued relative to its historical position.
For me, however, I advise folks to acquire harder assets wherever possible – ie farmland in particular. Good land, mediocre land, even poor land is going to be hard to beat in a real crash. It will always be useful. If it has a water source, all the better. It can provide food, security, and shelter from a storm. And in the end, they cannot produce more of it, unlike gold and silver (although silver is actually used up, unlike gold which is more or less forever).
The Margin Calls & Liqidations haven’t even got rolling yet. Commodities including Oil, Gold etc all got a long way to go down here before credit collapse is complete.
Thank God I went Long on the Dollar when Gold was $1900. 😀
Now I just need to figure out when to dump the Dollars for Potatoes.
RE
@ Reply RE
If that were true, why didnt the record amount of margin debt on the NYSE cause stocks to continue to crash after the 10 percent smash last month, they turned right around and made a new high.
If that were true how did the real estate market of the US, arguably the most leveraged fail to continue it’s crash, but instead stop dead in it’s tracks and stage a multi year, although tepid recovery.
The point of this article, it would appear, is that the dog shit who have unlimited access to free capital are gang banging the metal futures markets to fuck the sane and conservative. They are the ones utilizing the real margin and it is for nefarious reasons.
Don’t mistake bankster gang bangs for legitimate market movements.
hey did it again last night. “Someone”, not looking for the best price for their gold, flushed 13,000 contracts through Gold – amounting to over $1.5 billion notional and knocked gold down to $1,137 per ounce, the lowest level since April 2010. The timing of the dump was right as Japanese trading broke for lunch.
“What investor purposely dumps $1.5 billion of an investment in one massive trade? The answer is that no investor would ever do such a thing. This is all part of the central banker plan to prop up their floundering monetary machinations. They are running a confidence game/ponzi scheme. They need people to believe the USD is strong and resilient. Higher gold prices reveal their failure. Therefore, central banks and their banker owners will do everything in their power to suppress the price of gold.”
@GO
There ARE no “legitimate market movements” and there never have been.
The folks who control the credit creation Biz ALSO have gobs of PMs in the Basement Safe, and if it behooves them to dump them, dump they will.
Just remember, the Market can remain Insane longer than you can remain Solvent.
For most Hedge Funds at the moment, Dollars to cover Carry Trade deficits against the Yen and Euro are in more scarce supply than Gold is. They have to liquidate to meet margin calls on the FOREX trade. The carry trade between Dollars and Euro/Yen dwarfs the Gold market by an Order of Magnitude at least.
Power of Numbers.
RE
@ RE
You miss the point.
Most markets have margin.
Most markets have manipulation, perhaps, but for what reason is important.
The Gold and Silver markets are being gang banged by scum, not from margin problems.
You talk in circles of irrelevance like stating the manipulators have gold in their cellars, so what.
Why are the Gold & Silver markets being gang banged and not the others? That is the point, not margin.
The article suggests, and I believe it as well, that nefarious forces are banging it down at the behest of the bankster filth, to keep their games of rape and pillaging the masses, through the handing of each other free money to fuck us. A nice game if you are in the inside, but not the outside looking in.
Margin has no relevance as to the topic being discussed, it is their choice of what to gang bang and why.
GO, the point is that relative to the mgins in the forex trade nd derivatives trade, the PM trade is small potatoes. It gets swamped whenever the boat sloshes over far enough and hedgies and prop desks have to do some liquidations.
there is no doubt some manipulation going on here, but this is nothing new, PM markets have always been manipulated, they are very easy to manipulate because a few people monopolize most of the supply.
Right now, you have a lot of Notional Wealth that needs to be incinerated. All asset classes will take a bath on this. Remember Revelation 18
11 And the merchants of the earth shall weep and mourn over her; for no man buyeth their merchandise any more:
12 The merchandise of gold, and silver, and precious stones, and of pearls, and fine linen, and purple, and silk, and scarlet, and all thyine wood, and all manner vessels of ivory, and all manner vessels of most precious wood, and of brass, and iron, and marble,
13 And cinnamon, and odours, and ointments, and frankincense, and wine, and oil, and fine flour, and wheat, and beasts, and sheep, and horses, and chariots, and slaves, and souls of men.
See You on the Other Side.
RE
“PM markets have always been manipulated, they are very easy to manipulate because a few people monopolize most of the supply.”
Both points are incorrect RE and again you wander from topic to obfuscate the issue at hand.
The Gold market has always been a cash only fixed price market. It became a manipulated market only when Nixon allowed the banksters to con him and agree to end Gold’s status as the legal money of the US. Futures were soon attached to give the filth the ability to manipulate this once solid cash only fixed market.
No commodity in the world is more diffused among the earth’s population than Gold, from every corner of the globe it is owned and hoarded in small amounts by savers and their families and ancestors who have acquired it over centuries.
The large amounts that the major world economies have notably the US and Germany are testament to it’s value and the fact they needed it to back the currencies of their mammoth sized economies.
You will kindly note that as China became a major world economy, their appetite for Gold both by the public and for official reserves rose as well.
The question remains with all the markets in the world to fuck with and gang bang illegally; why are Gold and Silver singled out repeatedly and gang banged to the downside not upside as most pool operation are??? We both know why.
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“The only way that this makes sense is that the price of bullion is not determined in a real market, but in a rigged paper market in which there is no limit to the ability to print paper gold.”
well, congratulations gentlemen, you’ve finally figured it out. i trust from here on out you will stop complaining about the “price of gold” and simply wait for the gold derivatives market to collapse. moreover, if you omit the word “rigged” you’d still have a suppressed price for gold. so it is when gold is treated and traded as an industrial commodity when it isn’t one. the “price of gold” is a sideshow, a gambling parlor, a world unto itself that has nothing to do with demand for the actual metal. just wait for its death. it will die when the wheezing limp dicked federal reserve note dies.
i disagree with the venerable llpoh. though he is correct to note that gold is useless. but therein lies its value. you’d have to ask yourself why central banks around the world own lots of gold. look at the ECB balance sheet. you’ll find that gold is item 1 listed on the asset side. why would they own gold, let alone put it on their balance sheet, if gold had no value? They, and other central banks, do so because they anticipate the end of our current monetary system, a system that no longer works, that is sustained by all kinds of financial and monetary chicanery not found in any economic textbooks. Our debt soaked, centrally gamed monetary system will end. the only question is when. and we’ll see what role gold will or will not play in the next monetary system.
alan greenspan once said, “gold still represents the ultimate form of payment in the world.” he recently suggested that people own gold. now, if central banks own gold and the uber rich own gold, not as a trade or investment vehicle, but rather as a store of wealth or wealth asset, then perhaps they know something. if billions of chinese and indian peasants buy gold with their excess earnings, instead of paper shares in stocks, or even more absurdly sovereign bonds, then perhaps they know something. i look forward to the day when the ordinary person is not forced to invest at all (fuck stocks and bonds) to protect their savings. they just need a currency or wealth storage vehicle (physical gold) that will hold its value over a long period of time.
i am selling my last rental unit. b-bye taxes. b-bye soaring costs. i liquidated all my stock holdings last summer. my gold is at the bottom of the allagash. i will hunker down in the bunker with a hundred pounds of beef jerky and 20 cases of bourbon.
” i look forward to the day when the ordinary person is not forced to invest at all (fuck stocks and bonds) to protect their savings. they just need a currency or wealth storage vehicle (physical gold) that will hold its value over a long period of time.”
Hi Archie, I’m with you. It would certainly be nice to not have to expend so much time, energy, and capital trying to stay ahead of the fucking currency debauching Fed and Banksters.
Real Gold and Silver money would do the trick, and let us move on to more productive endevours with our scarce and valued time.
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Golden oxen, amen. it is immoral to debase the currency so brazenly. you might as well break into granny’s house and steal her cash under the mattress. sickening.
True Archie, and they tell her it’s for her own good with a straight face.
Just Doing God’s Work is what they tell us. Talk about balls.
Lloph- I generally agree with your position, and have secured a good piece for myself, water, gardens, greenhouse, aquaponics, chickens, next year hopefully, pigs and Solar Power.
Archie makes a very good point though, nothing is less liquid or taxed more heavily than my land. I am right under the watchful eye of the county, the state and the feds and the county wants their 300 a month come rain or shine. If shit goes south who knows what will happen to land owners that produce.
No one is actively taxing any Precious Metals as they sit and its very hard to keep track of them, possessing high portability and dense value. Both Land and PM’s have their place.
Hi Ottomatik, True, nothing less liquid or more heavily taxed than land; no portability either.
Pros and cons abound on all; history suggests that Gold is the best one of all, but not without it’s problems as well.