<< From _The Market Cap_:
The Market Critic: Don't call me a goldbug!
Gold is a commodity that trades on supply and demand. Supplies basically grow over time, because the material is considered a precious metal and it does not get used up as fast as it gets created...>>
Articles and stories such as this are worded with care so as to "blend" truth with half truths and to lead the reader into the (false)belief that "near every ounce of precious metal ever mined is today available for sale". I have even seen those quoted words in print. Allow me to here show that is pure and simple B.S. used to spin these partial truths into investments of other sorts!
Alex brought us the story of the Gold Buddha which is never sold, rather gains weight in precious stones & metals. Every museum has at least an item (or a great many) from antiquity made of these precious elements which are also "not for sale". Gold leaf and gilding make up the edges on many Holy Books and other relics of every religion - most of which are also "not for sale". I see no listing on EBAY where the LDS are auctioning off the Golden Tablets!
In my own family, it should be noted, jewelry is never outright "sold", instead, over the years and generations these items are redesigned & remade into something the new family member will wear and enjoy, often with two or more prior pieces made into one. Every generation adding a few more oz, a few more gem stones, and passing them on into the future. There is now a stone that rides upon my wife's finger which was before on the finger of my mother's grandmother contained in gold again from a prior ring. Many other prior "poor" families have the same practice - of "never sell gold or gem stones" -rather reform them!
Note here also, a small bit of gold (24k) I have not noted "for sale - make offer":
milehighcity.com
better view:
milehighcity.com
From an earlier point in the article, the author states:
"Nobody has made any money on the long side of gold or gold stocks since Reagan was in his First Administration." This is a patently blatant lie! Scotty here has shown us several profitable plays In The Last Year! I know well a man who made some, bought Jan. 85 around 303 sold Sept. 86 near $425. |
