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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum
GLD 386.01+1.6%Nov 12 4:00 PM EST
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To: KyrosL who wrote (25897)12/1/2007 11:25:19 AM
From: carranza2  Read Replies (1) of 217734
 
Gold in the ground is not bullion, freely traded and in a vault. It is like a shipwreck, whose lovely uncirculated coins lie at the bottom of the sea at some unknown somewhere, waiting for someone who is very well capitalized to go to the enormous expense of finding them, bringing them up to the surface, fighting this and that government over title, etc.

In fact, more iffy than a shipwreck because the gold must be refined, unlike lost coins.

The argument sounds good, but breaks down on closer inspection.
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