'SWISS GOLD SALES ARE Lächerlich" !!!!! (laughable)
(Schweitzer)
Dec 17, 15:47
NEM: Thank you for the info about the Swiss gold
"sales."
You specifically quoted the Swiss Central Bank (SNB) as
saying If by some miracle the sale was approved , the
SNB said that "the GOLD would be sold 50t by 50 t over
20 years." Let us examine the "gravity" of SNB's
"monumental" statement... and what possible impact the
Swiss gold "sales" might have on the market gold price.
The SNB will sell 50 tonnes early - that's about 1.6
million ounces per year. There are about 220 trading
days in a year. Therefore, the SNB will be "dumping" the
"grand" total of 7,600 ounces of gold daily on a
"hapless" market place.
Let's put the "grand sum" of 7,600 ounces/day into
proper perspective. Everyone should recall the LBMA
trades between 30,000,000 to 40,000,000 ounces of gold
DAILY - FIVE DAYS A WEEK - 52 WEEKS PER YEARS - with but
a few hloidays sprinkled in. Consequently, The feared
annual gold "dumpting" of the SNB represents a minuscule
0.02% of One Per Cent. For those who are 'per cent'
challenged, the SNB sales may be expressed differently.
For every one SNB gold ounce sold, London trades 4,605
ounces! EVERY SINGLE DAY!
Am I missing something here... or is the "fear" of Swiss
gold sales outrageously laughable? Has not this
perrennial nonsense just been a ruse to confuse the
really uninformed (if not totally ignorant) gold
investor?
"Das ist schon sehr lächerlich" - ein Gnome aus Zürich
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