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Old 07-31-2011, 09:23 AM   #290
Meck77
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Join Date: Sep 2002
Posts: 16,628
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Quote:
Originally Posted by mhgaffney View Post
There is one caveat.

If it is true -- as argued in the book Gold Warriors (a must read) that much, maybe most, of the gold in the world is off the books, that is, does not officially exist, then there is a real chance that the financial elite will -- at some point -- dump large amounts of gold onto the market -- to drive the price down.

It would be risky for them to do it --

There would be a lot of angry investors -- and probably new lawsuits -- about where the gold came from. However, a similar thing happened in the 1990s.

It's why I put my $$ into silver -- not gold.
Would love for others to "dump" their gold. Even when soros "dumped" his and the price has gone thru the roof since then. Even if nations decided to "dump" their gold China, india, billionaires would grab it.

I see a much needed correction though. I love to see a big dip personally. Loved it when silver hit 32. Would love to see it hit 20 again but I doubt it will happen.
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