If gold has any salvation in this digital world, it's this product on the NYSE:
goldbullion.com.au
At today's London pm fix, a ton of gold costs $10,697,912.50
Next year's production might be $26,744,781,250 (2,500 tons)
The Washington Agreement limits sales to 400 tons, or $4,279,165,000
Such small numbers, AOL has crapped bigger than yearly production.
With all the animosity focused on the USA, will the EU signatories sell more gold to buy $USD?
Even funnier, will European CB's sell their sovereign gold to buy Euro's?
Even funnier yet, will the Swiss sell more gold and sell their currency to boot?
You're odd lot point is well taken.
If demand is at the margin, 400 tons is 12,860,000 ounces or $4,279,165,000.
4+ billion is chump change.
There is absolutely no investment demand for gold in the USA.
"11,668 New And Satisfied Tulving Company Customers Since January, 1997."
That's 1,944.66 new customers per year since 1997. How pathetic is that!
Now imagine 5 million buy and holders, each owning 99 shares -g- (1/10 oz/share ).
I think the floor for bullion is then significantly higher.
However, what I think has yet to be proven significant.
Still, I believe I have finally stumbled upon the TRUTH -g-
cartoonbank.com |
