wobatus

Did the ECB Save COMEX from Gold Default?

-1? Why? Gold is just a metal, no? What else is it? I didn't add, but I could have, it isn't even an exceptionally useful metal.


On Apr 04 04:32 PM wobatus wrote:

> Gold is just a metal, isn't it?

Did the ECB Save COMEX from Gold Default?

Gold is just a metal, isn't it?


On Apr 03 07:13 AM debt donkey wrote:

> "You get it! I am a futures trader. This guy is just blowing hot
> air. "
>
> What you are a pit trader? or a just a guy flipping a couple of contracts
> on his brokerage account? "Naked short" in this sense means that
> a commercial has no commodity to deliver, that's what the article
> is about. Speculators are a recognized category of trader who will
> not be participating in the physical market. They are of course naked,
> but they are supposed to be providing liquidity, not delivering the
> goods.
>
> Anyways, I've read many of the comments and seen much of the usual
> indifference and ignorance of our predicament. Whether you are savvy
> or not in flipping fututres contracts up and down and trading volatility
> and whether you believe in manipulation or not - gold has been and
> always will be an integral part the market. If you accept the idea
> promoted by power that gold is just a metal then you turn your back
> on essential monetary history. More importantly you accept the excesses
> of government fiat whatever, you turn your back on the one thing
> which guarantees liberty - honest money and fair weights and measures.
> The power to create money by fiat is a terrible power, it is the
> very stuff of perpetual war and the dangerous militarism which is
> now apparent in America. But hey... if you can be a savvy trader,
> you needn't trouble yourself with these issues. Is the government
> owned by banking corporations? Who cares, as long as you can make
> a buck. Whilst my country is cleaned out by oligarchs, who cares?
> I'm alright Jack! What's a few hundred thousand ounces between friends.
> It's only a little bit of fascism, all good and healthy in a free
> society.

Did the ECB Save COMEX from Gold Default?

Can you eat gold? What good is it, aside from a few uses? It has value because people value it, but why? When the collapse comes, what will you do with it?