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Central banks are buying so much gold that investors are beginning to wonder if the world is returning to the gold standard — and some financial advisers see that as a partial possibility.
Central Banks Grabbing Gobs of Gold
Seeded on Wed Jun 30, 2010 2:52 PM EDT
Article Source: moneynews.com- Enjoy this article? Help vote it up the 'Vine.
- Public Discussion (5)
"We will see some derivation of a gold standard in the next 5 to 10 years," said Brian Hicks, U.S. Global Investors money manager, in a conference call this week with financial advisors and consultants, CNBC reports.
“We have been seeing baby steps in the direction of countries holding more gold in their official reserves, and that this gold in effect is backing their currency.”
- 3 votes
#1 - Wed Jun 30, 2010 2:53 PM EDTThey don't even know if they have enough gold for all the "tickets" they are selling. the elite are now screwing the rest of the elite???????
- 1 vote
Precious metals will continue to fluctuate and rise in value. People should have patience, and don't sell their gold, unless absolutely necessary. Precious gems are in the same state of flux, and some have been mined out, others short supply. Just my opinion, thanks for seeding this article.
TDR
- 2 votes
#2 - Thu Jul 1, 2010 6:40 PM EDTNow this I like - on my target ! Gold drops big time today - will be looking to increase my position and hoping others do. This sell off may have been a planned attack - many large banks/countries want to buy cheaper - eg. China for one - no logical reason for such a fall although we all realize that Mr. Market does not always think logically ?? Good seed Crispy,wish there were more regarding $ and economy.
- 1 vote
#3 - Thu Jul 1, 2010 7:01 PM EDTDrinking that gold is going to be hard to do. I'm reminded of the Titanic movie where the rich man offers money to the man in charge of the life boats who is about to die very soon. Will our standards ever change?
- 1 vote
#4 - Fri Jul 2, 2010 1:41 AM EDTYou're in Easy Mode. If you prefer, you can use XHTML Mode instead. |
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