VEGAS TRADES GOLD IMAGE

VEGAS TRADES GOLD IMAGE

Sunday, September 23, 2012

THE NEW INTERNATIONAL CURRENCY: TUNGSTEN


                                   Guess What? It Ain’t Gold

Time to hand out “The Louie Renault Award” for being shocked.
[ http://www.youtube.com/watch?v=T1DEG6BWgp0 ]
The gold dealer community is abuzz over some Russians [ROFLMAO] selling 10 OZ. gold bars filled with tungsten. I just got one question: is JPM, or Vampire Squid, long tungsten futures?

If tungsten catches on with muppets clients, maybe some day we can have tungsten bars filled with gold. Until then, give me gold coins and leave the bars for the snooty Swiss.

Maybe it’s just my cynical gold dealer mistrust, but there is a part of me that says this whole thing is a scam to discourage people from buying and holding physical gold. The lengths that government, at any level, will go to confiscate your wealth is unbounded by any natural constraint.

Of course, given the propensity of the Amerikan public to swallow any and all swill Wall Street throws at them, expect nobody to learn the lessons of MF Global or PFG Best. Keep buying paper Amerika, it’s done such a bang-up job for you this last decade hasn’t it?

Have a good day everyone.

-vegas

1 comment:

  1. Hopefully it's at least weapons grade tungstenSeptember 24, 2012 at 1:47 PM

    I suppose all the actual gold is hidden in the piano?

    "Serves me right for not being musical."

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