Today gold slid under $1200 per ounce, dropping to a level not seen in three
years. Judging by the price action one would think that gold is not only
overflowing from precious metal vaults everywhere, but can be found thrown away
on the street, where nobody even bothers to pick it up. One would be wrong. In
fact, as Bloomberg's Ken Goldman reports, "you could walk into a vault in London
and they were packed to the rafter with gold, and the gold would trade from me
to you to somebody else. You could walk into these vaults today and they are
virtually empty. All that gold has been transferred out of London, 26 million
ounces...." To find out where it has gone and why it is never coming back, watch
the clip below (spoiler alert: listen for the line: "the Chinese don't want
US dollars anymore, they want gold").
(Click link below to read more)
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About Me

- Judy Chaffee
- This site is the inspiration of a former reporter/photographer for one of New England's largest daily newspapers and for various magazines. The intent is to direct readers to interesting political articles, and we urge you to visit the source sites. Any comments may be noted on site or directed to KarisChaf at gmail.
Friday, December 20, 2013
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