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<p>[QUOTE=&quot;Juan Blanco, post: 1652043, member: 41665&quot;]Prudent Bear Chat and Doug Noland were my introduction to PMs as an asset class, back in 2000. I&#039;ve been a &quot;Gold-Bug&quot; ever since. Their forum was one of the best - does anyone else remember Rasputin?</p><p><br /></p><p>That said, no commentary is gospel and Martin Hutchinson&#039;s deeply flawed in several ways. (doug444 - thanks for posting this anyway!)</p><p><br /></p><p>Novelist Jung Chang was born on March 25, 1952. Her father was a propagandist of the Communist Party; she was a privileged child, even a member of the Red Guards, until the Cultural Revolution of the 1970s (her teenage years.) She&#039;s no historian; inference drawn from &quot;Wild Swans&quot; is dubious, NOT FACT. The question of whether (or not) possession of Gold/Silver in Mao&#039;s China made a very perilous social life <i>worse or better </i>isn&#039;t answered here. </p><p><br /></p><p>Hyperbole/hearsay from biased/brainwashed sources is insufficient evidence.</p><p><br /></p><p>Ditto, for Ukraine. wikipedia says that under the Law of Spikelets (Закон о трёх колосках) peasants couldn&#039;t eat their own food under penalty of death. Hoarding food was also a crime. The famine became so bad that farmers fled to cities TO EAT ... and redeemed 274kgs (12,020 ozt) of Gold worth at two torgsins alone, in January-February 1932. Almost anything could get you labelled a kulak or counterrevolutionary, but the sheer volume of Gold redeemed at that date suggests Hutchinson is historically ignorant, clueless.</p><p><br /></p><p>Bad data, wrong conclusion!</p><p><br /></p><p>In these two examples, the risk-assessment for holding PMs remains completely unknown. However morbid, the relevant question (&quot;Did having Silver in the Łódź Ghetto help one&#039;s circumstances?&quot; &quot;Did holding Gold in ______ in 19__ make life easier or worse?&quot;) remains unanswered. A comprehensive study would carefully consider <i>facts </i>from several country-cases &amp; periods. </p><p><br /></p><p>I cannot answer the question by anecdotes either, but I&#039;ve met half-a-dozen very different ethnic nationals, each of whom fled Nazi/Communists with Gold or real wealth. For every one, Gold/real wealth was a very important survivalist tool. So I have to wonder: what is the real purpose of this &#039;Gold-Will-Get-You-Killed&#039; scare-mongering? Why the persistent pattern of disinformation (or bias) on this key point, a case FOR (not against) Gold/Silver? </p><p><br /></p><p>And let me offer another rebuttal: North Korea. Isn&#039;t owning Gold illegal there, too? Hasn&#039;t the hermit kingdom branded gold-hoarders counterrevolutionary since Joe Stalin said so? By Martin Hutchinson&#039;s shoddy logic, OF COURSE the North Korean Gold-hoarders must all be dead by now. </p><p><b><br /></b></p><p><b>YET STILL (since 1945!!!) people in DPRK hoard Gold as wealth</b>. Parse this recent news item carefully. A-ha! &quot;Gold trinkets&quot; but how can that be? Impossible!</p><p><a href="http://newsinfo.inquirer.net/277138/cash-starved-n-korea-secretly-sells-gold-report" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://newsinfo.inquirer.net/277138/cash-starved-n-korea-secretly-sells-gold-report" rel="nofollow">http://newsinfo.inquirer.net/277138/cash-starved-n-korea-secretly-sells-gold-report</a></p><p><br /></p><p>2 metric tonnes = 64,300 ozt is approximately the annual production from DPRK mines. It&#039;s unclear how much Au &quot;in Gold trinkets&quot; the people owned in 2011 or still own in 2013 - but there it is. GOLD IS WEALTH, even where it has been forbidden/confiscated <i>for over 65 years.</i> </p><p><br /></p><p>&quot;Scorned&quot;? I doubt that. Both North Korean and Chinese traders know better: Gold is MONEY.[/QUOTE]</p><p><br /></p>

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