If the price of physical gold (i.e., the real stuff, not GS's
definition of 'physical') is being surpressed by manipulative paper
trading, and I personally believe that's likely, then surely the
producing countries are losing hundreds of billions each year in
forgone export earnings and tax revenues. Where's the outrage?
China might be perfectly happy to hang onto its own output whilst
at the same time soaking up artificially cheap metal from the
physical market, but there are plenty of other producers that need
current revenue more than they need reserve diversification. I've
long wondered why they've been so silent in this debate. Have I
been missing something?
Just abut everything you ever wanted to know about the manipulation of the gold and silver markets
Posted by puma on 28th of Mar 2010 at 06:00 pm
When this Ponzi scheme blows up, owning the physical metals should be very worthwhile.
Here's the article
If the price of physical
Posted by steveh on 29th of Mar 2010 at 05:44 am
If the price of physical gold (i.e., the real stuff, not GS's definition of 'physical') is being surpressed by manipulative paper trading, and I personally believe that's likely, then surely the producing countries are losing hundreds of billions each year in forgone export earnings and tax revenues. Where's the outrage? China might be perfectly happy to hang onto its own output whilst at the same time soaking up artificially cheap metal from the physical market, but there are plenty of other producers that need current revenue more than they need reserve diversification. I've long wondered why they've been so silent in this debate. Have I been missing something?
I suppose...
Posted by saturn6 on 29th of Mar 2010 at 07:55 am
A lot has to do with the financing requirements of these miners and their respective Governments, and who they turn for such financing and aid!