There are even some that think the so called gold reserves no longer exist but have been sold off already. As a private citizen you will not be allowed access to Fort Knox etc. and the last inventory was done in the 1950s. Why should that be so ? You may well ask !
Who will have bullets and food for sale? I want to trade some food for bullets, and don't give me any of those soft gold bullets.
I agree with you. But I was wondering how many 'certificates' of ownership that these companies were selling as opposed to the actual ounces of gold and silver in their possession. I doubt if there are enough floating out there to influence the markets but it was just a passing thought I had. I emailed the CME, but I haven't received a reply.
As I understand it all GLD owns is the certificates. Not sure, but that's what the goldbugs complain about any time I mention it.
I'm totally with you on that. Not sure what kind of morons the gold bugs think will be out there after the apocalypse who will be happy to give them something useful in a practical sense like food in exchange for something entirely worthless in a practical sense like gold. I don't think they get the whole Maslow's hierarchy thing, although in my experience they have yet to get to the love/belonging stage themselves.
To be fair, only recently in Venezuela inflation got so bad the few merchants with goods only accepted gold for a while. But I can't see a goldbug ever spending his gold just to make it through a few hard weeks. They will never sell. Never have and never will. Ride it up ride it down.
Although, now that I think about it, some enterprising young man could put together a decent stash of necessities and go looking for a crisis and maybe pick up some cheap gold.