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Santelli On The Securitization Of Gold
Having started trading gold futures over 30 years ago, CNBC's Rick Santelli has seen a few changes over the years. From its true high in Feb 1980 at around $2300 (inflation-adjusted), the biggest shift he and his guest have seen is the evolution of ETFs and the implicit securitization of gold. This took the 'complication' out of trading gold and enabled those who did not wish to hold physical to participate. But Santelli asks the critical question, "didn't it take the whole point away [of investing in gold]?" From the 'old days' when gold and silver were physically held and passed down and considered wealth to the current incorrect belief system of paper gold, the myth-shattering-Chicagoan exclaims to the precious metal ETF holders, "for the Ayn Rand'ers, if the financial world comes to an end, you're not going to have the gold, you're going to have a piece of paper."
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this is all you need to know about gold. zimbabwe. http://www.youtube.com/watch?v=Ih1zlYgR33w
about 3 dollars for a loaf of bread in 2008 gold prices. expensive for zimbabwe but no amount of paper could buy bread.
Like the song goes: Theres nothing like the REAL thing baby, theres nothing like the REAL thing......
Gold in the times of pharaohs was valuable just as it is today. That's 6,000+ years. What other "good" can make that claim?
Opium?
Beer?
Pussy?
Took the words out of my mouth.....
not sure about 6000-yr old pussy.
A sealed jar of honey would last just as long and you can eat it. And as it happens it was ALSO in Egyptian tombs such thousands-years old honey was found.
more so was raw honey and the precious valued than gold. the surgeons of the grand cataracts from egypt to sudan found that the precious and honey' highest and best use be infection control. ole doc imhotep saved many a limb by spreading raw honey over fresh wounds.
Gold was securitized because it was convenient for the establishment.
GLD acts a a kind of central bank for gold bullion banks. Blogger Victor the Cleaner makes a compelling case:
http://victorthecleaner.wordpress.com/2012/06/01/gld-the-central-bank-of...
How is it these assertions, which are true, were made on TV when most of the time there's screening & filtering, if not outright screaming (usually at Peter Schiff) to the contrary about conspiracies?