Author Topic: Texas University buys 1 BILLION worth of gold bars (Read 2859 times)

Matthew · « **Reply #5 on:** April 19, 2011, 03:23:29 PM »

I used to follow gold prices more closely -- not just gluing my eyes to the screen to watch the price go up & down, but I read lots of articles about the topic.

One common theme was: "If people start taking delivery from Comex -- WATCH OUT!" The assumption was that Comex does NOT have 1 ounce of gold for every paper share that exists. In other words, there could be a RUN ON THE PHYSICAL GOLD if a move ever got started.

It's a close parallel to our banking system -- they print $1 for every 100 digital dollars. If people all decided they wanted "physical dollars" the paper currency would soon run out. There simply isn't enough for all the "us dollars" that have been created electronically.

Same with gold.

s2srea · « **Reply #6 on:** April 19, 2011, 05:01:53 PM »

Quote from: gladius_veritatis

Buying the physical gold = great move.

Having it put in a vault in NYC = bad move.

HAHAHA! My exact thoughts when I read the OP!

gladius_veritatis · « **Reply #7 on:** April 19, 2011, 05:48:06 PM »

Sorry i don't have the time...out the door...but i saw a story (on shtfplan.com) about a man who wanted delivery of his 5000 ozs. of silver...NO DICE...so he sold his "silver" and bought silver American Eagles...

If you DO buy...get the physical...at the time of purchase...

Sorry tis sloppy...gotta go...

Catholic Samurai · « **Reply #8 on:** April 19, 2011, 07:09:25 PM »

Quote from: gladius_veritatis

If you DO buy...get the physical...at the time of purchase...

I couldn't agree more.

herbert · « **Reply #9 on:** May 10, 2011, 12:47:43 AM »

we should go back to this silver and gold currency

we need our money to be valuable