Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Ride the Tiger with CD -- Ignore unavailable to you. Want to Upgrade?

To: Louis V. Lambrecht who wrote (85194)	6/14/2007 3:01:12 PM
From: Canuck Dave	Respond to of 312611

I did a calculation once when France was threatening to sell some gold. 30 tons I think it was. It turned out that the money they would have gotten for all their gold reserves at the time would have added up to one day of US trade deficit. Let's see. Swiss sell 250 tons at $650. That's 7,292,000 troy ounces time $650 = 4.7 billion dollars. About 2 days of US trade deficit. Then we got budget deficit. I think we might be able to cover it. CD

To: Louis V. Lambrecht who wrote (85194)	6/14/2007 3:04:16 PM
From: silvertoad	Respond to of 312611

it's stupid of governments to trade away their nation's gold reserves for interest-bearing paper -- after all, there's nothing else like it on earth. they can only try to remove gold's attraction as the ultimate store of value, but will in time fail - the people, not governments, have and will continue to value gold. of course, they may not actually be doing this, but rather just trying to manage gold's price - trumpeting sales but not their purchases...