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Interesting presentation
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campbell
Posted 11/15/2012 07:53 (#2698238 - in reply to #2696867)
Subject: Very Interesting presentation


CENTRAL ILLINIOS
His reason for not owning PM's is that they are valued by the electronic market (financialized) and when that all unravels or when the "runs and margin calls start" as he puts it, there is no guarantee the price of gold is going up and in fact it could go down. He says he does not know if the price of gold should be $1750 an ounce or $175 an ounce but the price is being set by the paper traders. I see what he is saying but do not necessarily agree. When the first big(or not so big) gold fund goes under, there could be a stampede to get out of all paper gold positions and since that is what sets the price in the real world PM prices could drop. Not sure I am smart enough to argue with him, besides I have to go clean some brush out of the fence lines.
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