Discussion in 'Economics' started by wilburbear, Sep 16, 2010.
Only a paranoid or a shill for these scum would think there's anything more to this than assuring some transparency. You can get, from very reputable sources, one ounce gold bars at a very modest markup, and they will buy them back from you at the same modest markup, which covers refining costs plus shipping plus of course a profit, one that isn't going to leave you gasping for breath at the difference between what you get it for and what you can sell it back for.
Additionally - and I'm not sure how well known this is - you can open an account and trade a "pool account" with companies that sell gold to the jewelry industry, and the markup on this is even more modest, since the gold is kept by the company you're trading with. I say trading, because in essence these work just like an account you might open to trade stocks with. You can buy in any amount, sell it back in any amount, and the company only takes its bid/ask as a commission.
Needless to say, companies like what I'm describing aren't the ones being targeted by these congressmen.
Transparency? From the clowns who promised the most transparent gov't ever and but then hid 1,000+ page bills from the public? Whatever. I'll trust a gold salesman, even the worst snake oiler, over the likes of these guys and Dodd/Frank, who wouldn't touch the real culprits in their awful bill.
I don't know how interested in gold you are, but if you are, it would repay you many times over to do some serious comparison shopping.
The guys these congressmen are going after are profiteering crooks. I realize politics is involved, of course, since I'm pretty sure they're big sponsors of guys like Glenn Beck, but that doesn't mean they aren't right. The reason for the two party system is to make sure it's in someone's personal interest to expose crooks, and take the other side of what would otherwise be deeply unpopular positions.
I name no names, because I don't want to be seen as having any sort of personal interest in this. But I know the gold market very well. Enough said.
Weiner & Waxman
Frank & Dodd
Those are even funnier than Laural & Hardy or Abbott & Costello
Those types of things occur at long-term market peaks. Thanks for the sell-signal. :eek:
You do realize that about 80% of ET has no idea who those people are.
80%? you're underestimating. The 4 stooges; Moe, Curly, Larry & Shemp would make more sense to folks here.
And would do less harm if they had the same positions...
Please could you indicate who you regard as a reputable source.
Separate names with a comma.