Is the Gov killing your gold??

I read this on one of my fav blogs and if a world event happens what would we turn to as a back-up curancy? The writer makes a good point that if people keep selling there gold to the gov then they will controll the majority (just like they do money now) and when/if that happens they can controll what it is worth. Making it worthless if they wish to keep themselves in controll of the power. Here is the artical if you want to give it a read. joshtolley.wordpress.com...

If cash is on the way down???????
And gold is on the way up ???????
Why is anyone selling gold for cash?

reply to post by TerryMcGuire


I have NO idea but they are. I see ten dif adds a day for selling gold

I've been thinking of investing in Canadian currency. The Canadian dollar is a petro-dollar. When the price of oil goes up, the value of the Canadian dollar goes up. I'm going to have a number of Loonies and Toonies on hand as well as gold and silver when the US dollar tanks.

Thats prob a good idea. It would be nice to have a petro dollar here if thats the case.

The crook banks have been selling more gold and silver then there physically is. Its all a big sham game. You don't have it in your hands you got nothing but a piece of paper.

reply to post by TerryMcGuire

Cash for Gold is basically taking it from weak hands to long hands....(dumb hands when you consider that people dont know the value of their old jewelry and sell it for 10-70 cts on the dollar). They sell it b/c a) it is up and b) they need liquidity ("cash"). They are not selling it to the govt tho but rather to investors who are buying it.....most of the sellers sold out in the 1000-1225 area and now the longs are vulnerable to a correction.....as we have come a long way (even tho the long term trend for fiat currency is down and for monetary metals to go up.)

reply to post by HoldTheBeans

That is true for any commodity tho....the volume traded dwarfs the actual amount of commodity to make or take delivery of....for any market (it is called "hedging").

If i owned Gold or Silver i wouldn't sell it