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  • More On Rising Dollar, Declining Gold [View article]
    I can personally vouch for surging scrap supplies. A friend of mine buys scrap gold. He has been buying huge amounts from the public over the last several months.

    However, this past week he was told by the smelter he sells to that new government regulations will require an additional two day delay before the smelter can send him money for the gold he sends.

    Maybe gold smelters are suspected financial terrorists?

    Anyway, LOTS of people are discovering unwanted or broken jewelry and selling it to raise cash. While this does add gold to 'the system', it is still in the form of broken jewelry and scrap. It takes quite a bit of time and effort to turn this stuff into physical supply like coins or bars.

    The flip side is that most of the sellers need the extra cash to make ends meet, showing that things aren't all rosy in general.
    Oct 02 10:58 am |Rating: 0 0
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