Central banks, the people who gave us fiat currency, have been net buyers of gold for 8 years. Far and away the biggest buy is the Peoples Bank of China. But it is just a "barbarous relic" after all.
Posted on 03/03/2016 10:29:50 AM PST by blam
If that is the case, they’re now busy selling it off to support their currency.
“Because THE WORLD still values gold as currency........”
Yep. Pretty sure if I offer a contractor, or limo driver, or even my tax accountant gold coins for their services, they would gladly accept it. I guess you could say that is just barter, but those same people wouldn’t accept a goat or a coupon for 10 foot massages :)
Not if there are time travelers among us.
“Texas establishes own gold depository independent of Federal Reserve”
https://www.rt.com/usa/267916-texas-independent-gold-depository/
Russia understands it too.
Well, it's warming up again so it should be moving soon.
Central banks, the people who gave us fiat currency, have been net buyers of gold for 8 years. Far and away the biggest buy is the Peoples Bank of China. But it is just a "barbarous relic" after all.
“Next year, we’ll tax all IRA money over $50K at 25%; they’re rich anyway.”
If you are in the 15% bracket, retired and drawing social security, the social security ramp makes your IRA withdrawals taxed at over 25%.
Bear market bottom signal.
There are rumors that Ft Knox is empty, but the government continues to guard it to maintain the charade.
I haven’t watch it this season..................
Still great. The kid is doing good.
Good to know.
What’s Tony doing with his floating dredge?....................
Tony and his dredge are lagging behind. He is going to finish a distant third this year. Under a $million. The other two teams near $3 million.
... waiting...
Nope, never met one.
Great!...................I’ll haveta catch the reruns!.................
Goldbug ping.
I moved gold at Fort Knox in 1977 as temporary labor supporting a GAO / Treasury audit. There was quite a lot there. We moved / audited 47,000 bars that were in the 27# range. This was supposedly about 10%, which felt right, given all the sub vaults (we moved gold out of 2).
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