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ranbotrader
Member since May 2012
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From paper reserves to gold reserves

- Gabriel M. Mueller - Goldmoney

The article sounded good until the end and then a couple of very large chinks appeared. Firstly, the calculation of the gold price from reserves in the West. A valuation of around $10,000 an ounce assumes that China will not release some of its gold reserves to cash in on such a high gold price or that private hoarders will not do the same. I suggest that they will. Secondly, interference in markets occurs from not only central banks. The name George Soros comes to mind and this one individual has brought smaller economies to their knees. The only way to stop such "manipulation" is through legislation resulting in those concerned having to emigrate to somewhere in the world where they cannot be touched by government legislation.

Many of us are waiting for gold to reach a more reasonable level but we need not to kid ourselves. Supply and demand will in the end do the job and I dare say that governments will confiscate physical gold if citizens start buying and selling goods this way as the protection of the tax base will be number one priority. Laws are already well in place in many first world countries for this to occur so don't expect to avoid fiat currency forever......and then there will be capital gains tax to pay on the redemption profits. You know the casino always wins!!

Commented 3989 days ago

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Beginning of the headline :In January of this year I published a piece on the “fair gold price” in order to demonstrate that, if one was to simply treat the gold of all international central banks as the world’s true, reserve currency – as history has held it as for over hundreds, if not thousands, of years – then a logical calculation would place the value of gold at an astonishing $10,617 an ounce. Compared to gold’s price of $1,675 back then, this was a significant revaluation. The fair gold price can be calculated by... Read More

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