Marek,
a 1/2 yes and a 9/10 no
... at the ROYAL BANK of Canada
... ... certificate cost is 411cdn
... Metal is 418 cdn
Thats about a US $5 difference.
... Manager assured me that certificate is good as gold
... to exchange for it will cost me small fee
Is small fee between (418 cdn - 411cdn = )7 cdn - 20 cdn ?
[not really important but may keep some awake at night :o)]
... taking logic into place, metal should be cheaper
... since it is your cost now to store it.
(edit) certificates for banks may be cheaper if banks do not
have to pay storage fee(s) as my dizzy example has it.
These banks do not hold any physical, just sell certificates
of other peoples gold.
This may be the tip of the gata alleged iceberg of sleazy
corrupt gold price manipulation. Imagine if the central bank
of Iceland loaned out its 1,000 ounces of physical gold
to a mr. crook but there was no transfer of it as mr. crook
had mrs. crook cook a nice home cooked non fish meal
for the man in charge of the Icelandic bullion, and alls ok
since mr. crook has no intentions of later not being able
to return physical gold, so this way it safety stays put
in the Icelandic vault safe & sound, but officially on loan
receiving a 1% interest. Seems alls ok until mr. crook
takes the paper work to Bank1 and tells the bank that
they can now sell it to a customer for 411cdn/ounce
under undestanding customer receives a certificate only,
and Bank1 only has to give mr. crook 400 cdn/ounce
ratio on that sale. So Bank1 makes a little money without
having to deal with any movement of physical gold, just as
mr. crook also does not have to deal with that stuff.
ok, just a piece of paper mr. crook has, easy to carry
and easy for mr crook to go to Bank2 and do the same deal.
Also easy for Bank1 to sell that 1,000 ounces again if the
bank wants to break the law under conditions that not guilty
until found out, and if they invest the cash obtained from customers
into usa dot-com(s) they make lots of money while at the same time
it appears the price of gold will always Suck. Something like
fiat currency pumping out of the printing presses, the banks
obtain this paper money with no value behind it and loans it out
and people invest into dot-com(s) and no one is told the truth
from cnn and cnbc. Same with these "extra" copies of that
gold certificate, sell 100 of them eventhought only 1 actually
points to the physial gold in Iceland. Bank1... Bank10 do this.
So now we have your example of that physical gold being sold
100 times as certificates. Those 10 banks have the cash obtained
from customers as they each obtained a certificate. Seems as if
this is like a fiat money printing press action, a piece of paper
with a number not in a dollar amount, but in gold ounces, and also
using the same non reality logic, the value behind the paper
does not really exist.
Best i stop, getting dizzy thinking this way.
... certificates outnumbering metal is TRUE without any doubt.
ok, but if true then unless the government does it,
its illegal as Hutch says. Governments can do this
using the same rules as paper fiat money printing.(hope not)
I do agree with you, but overall i would suspect that if all
the certificates were added up and all the physical gold
available to satisfy them, including in the ground reserves,
that rather than your number of 100 i will guess 2 - 3.
Most likely 90% of certificates are valid,
and that 10% lies with the crooks and manipulators
and 1% in that 10% has your x100 oversold.
(for others new to this thread, some urls)
(from Jul 11, 2000, one year ago post)
URLs - YouAreLabyrinthine ...
When eXtra too much is just right.
----------------------------------
goldworld.net
Buying physical gold and other precious metals as ingots or coins.
------------------------------------------------------------------
coloradogold.com
ajpm.com
tulving.com
Bullion quote site.
-------------------
thebulliondesk.com
Quotes for Precious Metals
--------------------------
crbindex.com
kitco.com
kitco.com
kitco.com
kitco.com
kitco.com
kitco.com
kitco.com
kitco.com
quoteline.com
usagold.com
mrci.com
Recent Gold News
----------------
newsnow.co.uk
Topic=...
foreign exchanges & overseas markets
------------------------------------
quote.yahoo.com - foreign exchanges
wwfn.com - overseas markets
Chicago Board Options
---------------------
cboe.com
CNN Transcripts
---------------
cnn.com
What is e-gold.
---------------
e-gold.com
XAU
---
chart.yahoo.com^XAU
ichart.yahoo.com^xau
quote.yahoo.com^XAU&d=1d
quote.yahoo.com^XAU&d=5ys
quote.yahoo.com^xau
members.home.net
euro
----
tfc-charts.w2d.com
phlx.com
digisys.net
crbindex.com
dollars, euros, $Index, Canadain $ v Australian $, us vs aussie gold
--------------------------------------------------------------------
gold.org
charts.quotewatch.com
pacific.commerce.ubc.ca
coinconnoisseur.com
the-privateer.com
ASX - Austrialian Exchange
--------------------------
equitycafe.com
International value of national debt.
-------------------------------------
brillig.com
Canadian public companies.
--------------------------
fin-info.com
dollar chart for dollar talk
----------------------------
securitytrader.com
?
---
quotes.ino.com
quote.yahoo.com
quote.yahoo.com
the-privateer.com
=====================
The Main Event - URLs
=====================
http://abcn..... |
