View Single Post
Old 10-24-2008, 10:16 AM   #22
shokdee
Avalon Senior Member
 
Join Date: Sep 2008
Posts: 32
Default Re: Why Gold Is Dropping When It Shouldn't (by Alex Wallenwein)


Around here we have plentiful bananas too.

Seriously, anyone desperate for physical gold just send me the money and I'll buy it for you.

As the price of gold rises, people in Thailand sell off the jewelery they bought when the price was low. So the higher the price goes, the more comes back to the shops and stocks go up. On the other hand, if the price drops, then people with spare cash buy whatever they can afford. It's a very sensible system.

"My grandpa remembers people giving him Gold Rings for Chickens in Greece in 1930's".
Thanks for that info. Confirms what I wrote earlier about using rings, individual links from necklaces, etc as currency. Having a stash of KrugerRands or some bars might not be that practical if the financial system crashes.
shokdee is offline   Reply With Quote