Bullion Banking: The Mechanics and the Players
derryb
Posts: 37,277 ✭✭✭✭✭
"Bullion Banking as presently practiced is concerning for a number of reasons. It channels demand that might otherwise have gone into physical gold into paper alternatives that have little or no impact on physical gold demand. It facilitates a vast and opaque system of speculative trading. And it ultimately props up and protects fiat currency systems to the detriment of the gold price."
Disclaimer: the opinion is from a bullion seller. FWIW my cardiologist and my mechanic also offer advice and opinion based on years of selling their services.
Gold has a world price entirely unaffected by accounting games between the Treasury and the Fed. - Jim Rickards
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