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Jim C.
Member since May 2012
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Dark Gold: Shedding Light on a Mysterious Market

- Peter Schiff - Euro Pacific Capital

Good facts by Schiff, but nothing followers of gold haven't heard before. The bottom line, or minimum line, is that gold ought to be thought of as insurance. Something we can do to protect ourselves from government tyranny or bankster fraud. There is no guarantee of that but, at least, it is something tangible we can have. Like owning a gun: it might save your life, but it might not -- but at least the real possibility of defense is there.

What is coming to a head is the pull between money as a tangible asset (gold and silver) or as an intangible one -- the various forms of digital currency now vying for attention, BITCOIN in the forefront. My belief, and it is just that, is that the tangible will ultimately win. I can't imagine, if digital currency wins, that government or gangsters (what's the difference?) will not manipulate that as well.

Encryption is being touted as digital currency's advantage. But where there's a will there's a way. The 'unbreakable' Nazi code was broken and enough of the Japanese code was decipher to bring victory at Midway. And there have been numerous BITCOIN scandals in the past 2 years to give anyone pause -- one today as a matter of fact.

Commented 3729 days ago

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Beginning of the headline :Gold is the simplest of financial assets - you either own it or you don't. Yet, at the same time, gold is also among the most private of assets. Once an individual locks his or her safe, that gold effectively disappears from the market at large. Unlike bank deposits or stocks, there is no way to tally the total amount of gold held by individual investors.I like to call this concept "dark gold." This is the real, broader gold market that exists below the surface-level transactions on the major ex... Read More

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