The Korean government collected approximately 228 tons of Gold from the population.... To be sure, the Korean government was desperate enough at the time to "accept foreign currencies, as well as silver." But why do you think " the Gold only got mentioned in the news?" They ended up selling about 180 tons.
I want YOU to know what my point is. You posted the article; I challenge the data within the article. Why do you think that you only heard about the GOLD they collected, and not the other commodities that went with it? Because you and many others have selective hearing. You don't want to know. In a PM you called me myopic, yet I take the time to learn the truth behind a story. You posted the article for discussion, if that is not your intention, then WHAT is? *shrug*
A Nice Fall in the US Dollar relative to the US Dollar Index (below 90), and gold may very well rise above the $305 level of October 1998 and hold above that level. Repatriation has just begun. You haven't seen nothing yet.
And as every day goes by, you're less likely to see a decreasing dollar. You fail to understand the strife that Euroland, Britain, and Japan are going through right now. You may very soon see. And that shock may result in a destabilized currency flux that will cause the US dollar to appreciate to all time highs. And further cause GOLD to be unloaded at every increasing rates from CB and institutional sources. This may very well curb the economics of gold to that below production costs. Yet you'll be shaking your head, and wondering where it all went wrong. GOLD. Not sure why you include a Lawrence Kudlow commentary in your post to me.
PS Why don't you voice your criticisms to the gentleman who wrote the article?
I did, I always do. When I find a sadly misrepresented written article such as that I just feel I must write them. I even offered to write gold-eagle an article explaining WHY so many have predicted a low of $250 range for this time frame; and it doesn't include collusion, manipulation or cabals.
Hutch. |
