I don't listen to the radio at all. Anyway, FM is mainstream, AM is minority. AM talk radio is more niche than mass media. Not exactly an argument that the marketing push of silver/gold dealers is in full effect There are a number of coin & bullion dealers that have been around for decades. In the last few years, there has definitely been a large growth of them. It's going beyond the niche area and trickling into mainstream, that I won't deny. Cash 4 Gold buys, melt and re-sells. The opposite end is the general public. Which shows that the public are sellers, not buyers. I am not talking about the overall general population. I am talking about the demographic that actually gets financially involved in bubbles. Go ask around the retail investing public. Most do not own gold and think little of it. Even fewer own any physical. Almost all of them own stocks, through either 401k or personal account. By now, I am sure many of them dabble in GLD and SLV, but no more than 5-10% of their portfolio. Compare this with the tech bubble and real estate, when every other Joe Shmoe either had worthless tech stocks or was trying to flip a house and/or buy an investment property. Ask those same type of individuals today whether they are loading up on GLD, let alone gold/silver eagles or junk silver. Where is the bubble? And who is the sucker? Like I said, when I see these characters get involved in Eagles, I will be looking for an exit.
it is not mentioned but probably most important.. gold has religious value. All religions derived from hindu have these stories of rich prince - gold connection. can this go away ?! Not until there is a price attached to a woman.
1) Gold and religion, a mind-destroying combination! 2) ?.... ! ....Are you talking about prostitution? :eek:
I do not doubt for a moment that the World Gold Council and the gold miners have done everything they could to spur on the buy side of the gold market. But keep in mind that the demand in India and China is for the physical metal, not some ETF. Also, while some of the big hedge funds that are long gold have bought shares of gold ETFs they would have simply bought large gold bars and kept them in vaults themselves if the ETFs didn't exist. The Bloomberg article completely misses the biggest causal factors in the gold boom - U.S. fiscal policy and the global financial meltdown triggered by the mortgage crisis. I have been long gold since it was priced at $320. Each week I ask myself, "Have the reasons I bought gold changed? Has fiscal responsibility suddenly become fashionable in Washington, D.C.? Is there any conceivable way of continuing to service the federal debt other than by massive money generation?" If anything, the reasons for me to hold onto gold have increased. The unfunded liabilities ten years ago were largely a theoretical abstraction. Now they are busy turning into bona fide debt -- social security is in deficit this year. Entire new entitlement programs -- such as George W. Bush's Medicare part D program -- are being funded solely with debt. And nobody but Ron Paul is serious about getting us out of the forever wars. Now cities and entire states are in danger of defaulting on their bonds; inevitably the debt will be transferred to the federal government via bailouts, just as the dodgy mortgages held by private banks were. The real question for me is, why the hell am I still holding any U.S. dollars? (Answer -- partly for the practical reasons of paying day to day bills, and having something to trade with, and partly because of a foolish nostalgia for a barbaric relic with dead presidents on it.) I can't predict the month to month changes in the gold price (which is why I hold gold but don't trade it). I won't be shocked at all to see gold below $1000 in a year or so. But I will be even less surprised to see it eventually hit $2000. After all, after gold first hit $1000 it then crashed to $700 during the panic of 2008, when everything was liquidated at fire sale prices. People were saying that the gold boom was over. Then gold proceeded to march straight up, doubling over two years, to its present value of $1400. A strict Volcker style policy of double digit interest rates would crush gold once and for all, but the government can no longer stomach such strong medicine -- the cost of debt service would be intolerable.
I wouldn't listen to a word the World Gold Council says. I've dealt with them before and it's hard to find a more useless and pathetic organisation. Great at running up expenses, entertaining and thinking they're important I'll give them that, but anything else they do is laughable.
in some religion man pays for wife in gold, transaction between parents and male buyer. In other religionss parents pay man to take their daughter.