Posted on 10/25/2009 10:44:41 AM PDT by blam
Gold Gives A Precious Insight Into Economy
What a strange and fascinating commodity gold is – a store of value that is no one's liability, which cannot be printed or debauched by governments but which, with no income stream, has no objective value. A simultaneous hedge against both deflationary slump and inflationary spiral, it is little wonder gold should be the investment of choice for the Armageddon crowd.
By Tom Stevenson
Published: 6:26PM BST 24 Oct 2009
Gold attracts conspiracy theories like no other asset. Google "Yamashita's Gold" and enter into a half-plausible thriller of Japanese wartime loot and abandoned bullion in the Philippines. It is the stuff of an airport page-turner but what can it tell us about the real world?
Some serious people think that the recent rally in the gold price really is different this time. It's not like the safe-haven spikes that have pushed the yellow metal through $1,000 an ounce on a handful of recent occasions but each time failed to hold the gain. Traders are pointing to the shallowness of recent pull-backs and the volume of bets buying speculators the right to purchase gold at between $1,100 and $1,200 an ounce.
One long-term market player said this week that he'd been trading gold for 18 years, the first 13 of which no one wanted to talk to him. Today he's fighting off questions about what's going on in the market.
[snip]
(Excerpt) Read more at telegraph.co.uk ...
B-b-b-b-but... YOU CAN’T EAT IT!
When everybody runs to gold... I run to Obama... no no just joking.
Gold is valuable because it is the best perfect thing to use as money. Silver is pretty good too.
http://goldismoney.info/forums/
The best thinking on “Yamashitas Gold” is that it is still officially lost.. The Philippines has a good amount of gold and gold mines ,, Marcos appears to have used stories of Yamashitas gold to cover for him personally taking a cut off of the gold miners production and selling it on the world markets (with just enough actual Japanese plunder gold found and reported on to make the cover story plausible) ,,, he would rather be thought of as a lucky finder of gold than simply raiding his own treasury. The way land has been divided among farmers (similar to Mexico) where small plots are the norm pretty much assures that any markers left behind have been destroyed/erased ... Japanese treasure hunters regularly scour Mindanao , particularly the Butuan area and inland from Butuan where the last large Japanese encampment existed before their evacuation.
No, but you can trade it for food.
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