InvestorsHub Logo
Boards
News
Market Data
Markets
Discover
Discover
Subscribe Login/Register
S&P 500
5,477.90
(
0.16%
)
US TECH 100
19,124.00
(
-0.27%
)
Dow Jones
39,127.80
(
0.04%
)
Brent Oil
84.47
(
0.34%
)
Bitcoin
60,816.13
(
-1.61%
)
Post# of 67010
Next 10
Reply Private New
Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

MUSHROOMKING

Send PM Follow Ignore
Followers 4
Posts 934
Boards Moderated 0
Alias Born 05/01/2007

MUSHROOMKING

Re: None

Tuesday, 11/24/2009 11:32:23 AM

Tuesday, November 24, 2009 11:32:23 AM

Post# of 67010
Gold's real virtue is negative. It is not used for much industrially but there is limited supply and real physical constraint on producing more. Unlike, say dollars, you can't simply flip a switch and make more.

Dylan Grice, strategist at Societe Generale in London (who, by the way, I'd happily sit next to on a train) points out that the value of the gold held by the Fed only equals 15% of the U.S. monetary base and that the price would have to rise to $6,300 per ounce to make the currency fully backed by gold reserves.

http://www.mineweb.com/mineweb/view/mineweb/en/page33?oid=93501&sn=Detail

Lightning cracks the blackened sky,
Hear the thunder chariot ride
All brave men with hearts of war
Ride the path of mighty Thor

Public Reply Private Reply New Post
Keep Last Read
Replies (1) Keep Last Read Next 10 Report Keyboard Shortcuts
Replies (1) Next 10 Prev Next

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.

Sign Up