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.