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Thread: Has more gold been sold than exists?

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    Default Has more gold been sold than exists?

    Just wondering if this will be the next scheme to unravel.

    Also why I bought physical gold.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Yes. I've heard a conservative estimate of 1,000:1. Some put the estimate closer to 10,000:1.

    And you have liberalism to thank for it.

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    Do you mean that ad about converting my 401K to gold is not a good idea?

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    Quote Originally Posted by Tabasco View Post
    Yes. I've heard a conservative estimate of 1,000:1. Some put the estimate closer to 10,000:1.

    And you have liberalism to thank for it.
    What?
    "Do not think that I came to bring peace... I did not come to bring peace, but a sword." - Matthew 10:34

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    Buying gold now would be bad. You don't buy when it is at an historical high...

    And yes, some of the funds managers "cheated"...
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    Quote Originally Posted by Tabasco View Post
    Yes. I've heard a conservative estimate of 1,000:1. Some put the estimate closer to 10,000:1.

    And you have liberalism to thank for it.


    Perhaps you can logically explain the last comment.

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    Quote Originally Posted by uscitizen View Post
    Just wondering if this will be the next scheme to unravel.

    Also why I bought physical gold.
    Just wondering... but what prompted this question? Has something occured to make you think this is true?
    Quote from Cypress:
    "Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.

    They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "

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    Quote Originally Posted by Tabasco View Post
    Yes. I've heard a conservative estimate of 1,000:1. Some put the estimate closer to 10,000:1.

    And you have liberalism to thank for it.
    Please explain, where have you heard that from?
    Quote from Cypress:
    "Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.

    They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "

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    Quote Originally Posted by Superfreak View Post
    Please explain, where have you heard that from?
    be careful. i also heard rumors on virtual gold.
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    Quote Originally Posted by Chapdog View Post
    be careful. i also heard rumors on virtual gold.
    lol... I am asking, because I want to read up on it. I have a pretty good feeling on WHY people think this, but want to read where they are getting their information before I wade into this discussion.
    Quote from Cypress:
    "Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.

    They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "

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    Is "virtual gold" just gambling on the price of gold with no real investment?
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Quote Originally Posted by uscitizen View Post
    Is "virtual gold" just gambling on the price of gold with no real investment?
    That is why I asked you why you posted this thread. The perception that more paper gold exists than the physical gold to support it is false. The reason is the 'virtual gold' ETF's that are out there.

    The answer to the above is YES... the 'virtual' gold ETFs are designed to mimic the price of gold. They do not actually buy gold bullion.

    Not all ETF's are virtual. Some, like GTU, raise money through share offerings and use that cash to actually buy bullion. So investors should be very cautious when buying ETF's. Know whether or not they buy the actual bullion or whether they are derivatives designed to ATTEMPT to mock the moves in the price of gold.

    Personally, I would buy the ETFs like GTU (or the actual bullion as you did) and would stay away from the 'virtual' gold.

    The actual mining stocks can provide better values at times with greater growth potential, but they are not always going to move in tandem with gold prices, so they are not to be used as the inflation hedge (at least not as good of a hedge) that gold bullion is.
    Quote from Cypress:
    "Scientists don't use "averages". Maybe armchair supertools on message boards ascribe some meaning to "averages" between two random data points. And maybe clueless amatuers "draw a straight line" through two random end data points to define a "trend". Experts don't.

    They use mean annual and five year means in trend analysis. Don't tell me I have to explain the difference to you. "

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    Why I started this thread was my suspicion of scammers in the gold market.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Fuck, you're safer buying a company in bankruptcy proceedings than gold?
    You Are Not So Smart Podcast - A celebration of Self-Delusion

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