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samking73
Member since February 2013
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Chill out dudes

- Bron Suchecki - Perth Mint

Ok, I'm not an expert on the subject but I have done some extensive research since I've started "stacking" about a year and a half ago. I will not buy into what this guy, Suchecki is saying. According to the CBC Documentary on "The Secret World Of Gold" there is only enough gold in the world to fill three Olympic size swimming pools. I know gold is heavier than a lot of other metals but still, that's not much gold when you consider jewelry and other forms of gold. I admit, when you hear of 6 tonnes of gold, that's not a huge volume but still, only three pools volume in the world? Plus I understand that the PAPER gold/silver market operates much like fractional reserve banking. I just can not believe its all there on demand if everyone decided to take delivery. And, on one more of Suchecki's reasonings, the U.S. is one of the top ten silver mining producers in the world but the U.S. mint had run so low recently that they have had to find silver to import from other countries. (I wonder why the govt doesn't just pull this needed silver out of OUR reserves. Haha!)
I may be completely off base here but this is my opinion.

Commented 4013 days ago

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Beginning of the headline :OK, it is all getting a bit silly out there on the gold interwebs, particularly in respect of the supposed physical-paper price disconnect. I have been trying to kill this meme ever since it first appeared in 2008 but it seems the idea of production capacity shortages seems too difficult for many to get. The "real" price of gold isn't what you pay for a 1oz coin on eBay. As Mish says "Premiums on small denomination coins is not the same a general premium on physical gold itself." But don't ta... Read More

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