posted on Nov, 20 2008 @ 12:00 PM
That whole 'central banks selling gold' statement struck me as very odd. I can understand that many of the CBs and various funds are selling gold
reserves in order to provide liquidity in order to free up credit, but why then did the Saudis and Iranians just buy so much of it?
And why is there very little, if any, physical gold available? You know, right now there is about a 20% premium over spot on physical gold... why is
this? I'll be damned if I can walk into the local currency exchange (which advertises "Buy Gold and Silver Eagles here" on the window) and buy any
physical silver or gold. It is not possible. They have not had silver or gold since early summer.
hell, I remember last June going all the way down to Wall St. to buy gold. I could not find it anywhere. And even then, the gold eagles were not
available... I had to buy Austrian Phils... (fine by me) Oh, and the kicker is that I also had to fill out some Patriot Act form too. Nice!
Lastly, somebody had mentioned doing away with the Fed. It is possible, but there is terrible resistance. JFK tried it by signing Executive Order
11110 on June 4, 1963 which established a silver standard for US Currency. 5 months later Kennedy was killed and silver certificates came out of
circulation. No more were printed after that.
Gee willikers... what could have caused that?!