Message:

<p>[QUOTE=&quot;John the Jute, post: 617958, member: 17740&quot;]Hmmm. $80 billion. Gold is valuable but that&#039;s still a lot of gold--more than 2500 metric tonnes--more than is dug out of the ground each year.</p><p>&nbsp;</p><p>The paper gold market is huge--probably more than $2 billion dollars a day--but most of that is money going round in circles. The market for actual physical gold is surprisingly illiquid, as the chairman of Goldcorp found when he tried to buy just over 1 tonne of physical a few years back:</p><p>&nbsp;</p><p><a href="http://www.onlygold.com/Articles/ayr_2002/Are_We_Running_Out_of_Gold_(November_18_2002).asp" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.onlygold.com/Articles/ayr_2002/Are_We_Running_Out_of_Gold_(November_18_2002).asp" rel="nofollow">http://www.onlygold.com/Articles/ayr_2002/Are_We_Running_Out_of_Gold_(November_18_2002).asp</a></p><p>&nbsp;</p><p>I don&#039;t doubt the senator&#039;s primary concern--that China fears US inflation and is diversifying its reserves--but I don&#039;t think his headline statistic holds up.</p><p>&nbsp;</p><p>Later,</p><p>&nbsp;</p><p>John[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in