Buy and Sell Signals, and Other Market Perspectives Message Board

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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives

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Dec 31 4:00 PM EST

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To: GROUND ZERO™ who wrote (2321)	4/12/2010 11:15:37 AM
From: Real Man	Read Replies (1) of 220946

I read somewhere very little gold was discovered at Scotia Mocatta, one of Nymex bullion dealers. So, all of the trade in gold seems to be paper. Some folks are getting worried there is too much paper and not enough gold to pay for it. Rumours about that have been circulating in the bug community for a long time, but, first, they are bugs, so they are nuts. Second, the market did not care. The gold bugs propagate a myth of a squeeze: as all gold investors rush from paper into physical, gold price will rock to the upside. Hasn't happened, maybe yet. -g- I think HK wanted gold in place of IOUs, just in case, which is understandable. Gold is disaster insurance, and when that happens IOUs usually don't pay. Holding them defies the purpose. -g-

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