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Modern El Dorado? A City of Gold.

SwampboySwampboy Posts: 12,987 ✭✭✭✭✭
in Precious Metals



Hot off the AP wire

My daughter was in the gold Souk last week.
She was simply stunned.

"Inspiration exists, but it has to find you working" Pablo Picasso

Comments

  • OPAOPA Posts: 17,119 ✭✭✭✭✭
    I guess I "worth less" fiat $ are still in demand.image
    "Bongo drive 1984 Lincoln that looks like old coin dug from ground."
  • secondrepublicsecondrepublic Posts: 2,619 ✭✭✭
    Meaningless statistic alert:

    "Dubai now has about a 29 percent market share of global gold trade with nearly 1,200 tons - worth about $41 billion - changing hands at the city's gold markets, according to the gold industry website bullionstreet.com. That's up from around $6 billion worth traded in the emirate in 2003...."

    Gold prices have increased 4 or 5x since 2003... so Dubai's role in the world gold market hasn't increased anywhere near as much as this $6 to $41 billion statistic implies.
    "Men who had never shown any ability to make or increase fortunes for themselves abounded in brilliant plans for creating and increasing wealth for the country at large." Fiat Money Inflation in France, Andrew Dickson White (1912)
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