Got to love mainstream media "errors" when discussing the price action of gold. The talking head opens this video stating the gold price has fallen 6% this year, when of course as of writing gold is up 8% in USD (1 Jan gold was $1,200: 16 May gold is $1296).
Interesting to note in this video the two people of Asian backgrounds understand gold, and the three white guys can only think about gold ETFs and being confused on how to price gold (although I am sure they would have no issue discussing the pricing of any other currency).
And that is all we really need to know. Asians know the value of gold and are hence buying, white guys don't have a clue and hence are selling gold. West to East the flow of gold will continue until there is none left.
May 15 (Bloomberg) -- Ed Moy, chief strategist at Morgan Gold, talks about the outlook for the gold market. He speaks with Adam Johnson, Scarlet Fu, and Tom Keene on Bloomberg Television's "Surveillance." Author and economist Steven Levitt also speaks
Interesting to note in this video the two people of Asian backgrounds understand gold, and the three white guys can only think about gold ETFs and being confused on how to price gold (although I am sure they would have no issue discussing the pricing of any other currency).
And that is all we really need to know. Asians know the value of gold and are hence buying, white guys don't have a clue and hence are selling gold. West to East the flow of gold will continue until there is none left.
May 15 (Bloomberg) -- Ed Moy, chief strategist at Morgan Gold, talks about the outlook for the gold market. He speaks with Adam Johnson, Scarlet Fu, and Tom Keene on Bloomberg Television's "Surveillance." Author and economist Steven Levitt also speaks
Oh just on the point of "when the world goes to hell" - well then it is only gold (and silver) that is taken as payment.
Zimbabwe - A place that went to hell:
Zimbabwe - A place that went to hell:
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