Quote:
Originally Posted by TAXMASTER
no offense but you cannot compare thailand to america. the average person there doesn't have the means to buy a large amount of gold or silver. the economys are totally different and the expendable wealth for the average person there is about what a homeless person here is. so there is undoubtably no run on precious metals there like there is here.
Namaste'
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Well the average US citizen has definitely more debts, more credit cards not working anymore, negative saving rate....so the average US citizen might feel materialistically feel rich or richer than a Thai but net-net after all debts...I am not sure if the average Thai is not a bit richer or at least less poorer than the average US citizen.....
But what concerns Gold, yes, the few Gold and at this point it does really not matter where it is...but any quantity reported so far doesn't convince me there is enough physical silver or gold...it makes me big time laugh all these stories..."woooh I know some stores somewhere on planet earth...they still have plenty of Gold"....listen:
In Switzerland there is bank, which is called
Name of Bank: Zürcher Kantonalbank
Street: Bahnhofstrasse 9
ZIP: 8002
City: Zurich
Country: Switzerland
Recent statement of the precious metals trading of the bank: "Right now we sell 3 to 5 tons of PHYSICAL Gold per day!". Ok this sounds not spectacular at first sight and I am sure Mac Donalds sells much more Ham- and Cheeseburgers measured in tons per day....
But if ZKB continues to sell only 2 TONS OF PHYSICAL GOLD A DAY MULTIPLIED TIMES 200 TO 250 BUSINESS DAYS....this give already something like 400 tons.....being sold just by a little tiny bank an average US citizen never heard, since such an average US citizen can even not make the real difference between Switzerland and Sweden....well at least most of them know...its not in the United States of America...(hopefully!)....
Ok what is so special about this little tiny ZKB: well they have an ETF on Gold...the only ETF by the way which is not only physically backed by Gold....NO NO NO...if you have such ETF's you can excercise them and you get real, real physical Gold....not like with COMEX which tries to convince you that physical Gold exercise is something bad....one shouldn't do..!
Hey you know the best, there is now another little Swiss private bank which will just do the same....another ETF with real physical Gold backing and if one exercises he/she gets real physical gold....
So, if you can't get physical Gold in the US. There are two excellent banks, which don't need rescue-money, without loosing money playing around and loosing money in the so-called sub-prime-debt (in Europe sub-prime-debt-people are normally called homeless!), no CDS no nothing tihsllub-positions. You can trust them!
Cheers, silverman