Which comes first gold at $1500 or $3000?

Unfortunately that is true, not just a curse

 

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I'm not sure if Fort Knox has gold, but, I'd think it does. It's more than likely owned by the Private Investors who own the Federal Reserve and centrally plan our economy for us.


Now that they've bailed themselves out - watch as we get the full weight of the boot on our neck soon enough.

 

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big increase is the two years China became net seller of Treasury paper.

Russia may now be world´s largest buyer (~800 ton in 2012) and is a large producer too. Two years ago India was world´s largest gold buyer but,
Indian government is now trying to greatly reduce the population´s gold buying to conserve foreign exchange (making smugglers happy):

And just last week Indian government review panel recommend these measures be toughened. (making smugglers even happier)

Iran is paying for some imports with gold. Kuwait is selling oil for gold (petrodollar system is dying.) Some years ago, I suggested China, when ready to see dollar crash (if it has not already under the growing debt burden) will issue gold backed RMB bonds for central banks & IMF only. - Make them the preferred international reserve holdings and then, as US does now, get to pay for imports with printed paper.

The "golden rule" is: He who has the gold, makes the rules (but who knows who has the gold? Much at Fort Knox may belong to others - they have not been audited in six decades!)

 

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why big drop:

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& where is bottom? (now that multi-year dashed red line rising floor is badly busted).

 

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So how long should we sit on our gold. We have jewels that were purchased much cheaper decades ago. We were recently offered over $1000 for just 1 piece. It is tempting to cash them in while gold is so high.

So when is this $3000 coming, and how sure a bet is it?

P.S. What weighs more? A ton of feathers or A ton of gold?

 

both are the same, but an ounce of feathers weighs less than an ounce of gold. Which weighs more a tonne of silver or a ton of gold?

BTW CNN had today a brief report, like my 2nd quote in post 43, on the Indian government´s efforts to reduce gold imports and said that estimates of the gold in India are ~20,000 tonnes. Most of it not as blocks in vaults but on well - off ladies when "dressed to kill." that is more than twice what is in the US, and more I read the less I believe there is 8,134 tonnes of US owned gold in US - I am starting to think for sure why Germany must wait seven years before getting it gold back is that US has rented / leased it out for 5+ years to Asian dealers.

 

@ Billy T,
My Mistake. I thought the troy weight system translated into tons where 12 ounces equals a pound versus 16 ounces, etc. I was wrong?

So should I sell my gold? We have a fair amount likely 5-10k worth at todays value. Maybe I should sell and donate to Rossi.

 

Gold´s price has fallen fast in last weeks, yet: