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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (393596)	9/1/2009 8:44:49 PM
From: Terry Maloney	1 Recommendation Read Replies (2) \| Respond to of 436258

Wow, you're some trader ... But why can't I shake the oily feeling you're clown zero's alter ego somehow?

To: Real Man who wrote (393596)	9/1/2009 8:58:56 PM
From: NucTrader	Read Replies (1) \| Respond to of 436258

I can see the wisdom of holding a little physical gold (say 20 0z) for some sort of unforseeable emergency where it might be of use (along with water, ammo, food, or petrol). But assume you own more, assume gold goes into permanent backwardation (ala Antal Fekete), assume it can no longer be purchased with USD (maybe or maybe not in yen, yuan, etc.), but has a market and a quote outside the USA in some other currencies. Do you think the US Government is going to let you cash in? They've got innumerable ways to screw you: a) declare private ownership of gold illegal and confiscate your gold b)allow you to keep your gold but you can't take it out of the country (and hence can't trade it) c) allow you to trade it, but put an onerous tax on the trade, etc. etc. So IMHO, if you own physical gold you better have it outside the country, a big pain in the ass unless you're close to the Canadian border. And you better not own paper gold. If it goes into permanent backwardation, all that paper will be worthless.