Sunday, August 24, 2008
Follow the Giants
Central Banks in Russia, China and the Middle East are accumulating gold right now. European Union countries are required to keep 15% of their foreign currency reserves in gold. The IMF has been accumulating gold from small countries for years in exchange for giving them dollars. Germany's Bundesbank is hoarding it's gold. Now the US Mint is hoarding gold it is required by law to sell to citizens. They suspended sales from August 14th until August 25th, suspiciously during the PPT engineered dip in gold prices. Follow in the footsteps of these GIANTS and get you some! I know for a fact that there are still a few gold coins around. I just bought several this week. The price discovery mechanism for gold, the COMEX, may never go to the moon. This high demand is smart enough to know that you don't get real gold from futures betting. But those coins will go to the moon. The Central Banks know this, and they are preparing.