Quote:
Originally Posted by Triaxis
Well. laugh if you want to, but the proof lies in the fact that there is too much physical gold out there, and not enough cash
The best info would be to check into ebay.com and check out gold bars, silver bars, gold coins, silver coins (minted and unminted) and also jewelery (pure gold and silver chains ect)
It will take you a long time to go through that lot. Seems there is a lot of people out there trying to dump the stuff for cash. Go to other auction sites, or even the plethora of pawn shops around the place, it is the same thing. You cannot exchange physical gold for goods and services - everyone needs cash to do that.
There are many people out there predicting this and that. Personally, I believe that it is in no-one's interest for the dollar to collapse, so it won't happen. A methodical unwinding perhaps, but not a collapse.
The paper value has gone up, but so too has most other things. The more USD that flood the market, the higher all prices go. It's not just gold.
In any case. My friend has physical minted gold coins and bars. If anyone can tell me where he can trade an ounce of it for US$1000, that would be great. As it stands, he is struggling to get half that. If he has paper gold, he might have been OK, but physical gold is hard to offload, impossible if you want market price..
Personally, I would like to buy a heap of that cheap gold, but like most people, I need cash right now as well.
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I just went to ebay and there are several 1 ounce coins or bars selling for $1000.00 or more so, what are you talking about?
Also, many local coin stores will buy large quantities of gold because they are having a hard time getting the real stuff, the .9999.
There is a difference between just 'gold' coins and real gold .9999! A gold coin doesn't necessarily mean pure gold at .9999.