Treasury officials say the gold has just been in the bottom of some vaults at the US Bullion Depository anyway, and the government needs the money NOW.
In any great organization it is far, far safer to be wrong with the majority than to be right alone. —John Kenneth Galbraith
Asian currencies continue to sell off vs the $ on the heels of the news yesterday that South Korea said they will look into hot money inflows stemming from the $ carry trade and the Bank of Indonesia said they are looking into the foreign buying of bills. This follows the news a few weeks ago that Taiwan was limiting foreign deposit holdings and Brazil was taxing foreign inflow transactions. As I mentioned yesterday, we may have reached a short term pain threshold in terms of $ weakness and foreign countries are fighting back as they certainly won't wait for...
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July 8th, 2009 at 11:41 pm
Those commercials are real…I’ve seen them…tells me one thing…stay out of gold, therefore deflation must be coming.
July 9th, 2009 at 2:16 am
[...] is the original post: US To Trade Gold Reserves For Cash Through Cash4Gold.com Leave a comment | [...]
July 9th, 2009 at 4:32 am
Is it a propaganda exercise? I meant to say, if there is anything we have learned about Fait money it’s that it is not cold and hard.
July 9th, 2009 at 5:35 am
Its not propaganda, its parody, via the Onion!
July 9th, 2009 at 10:47 pm
Sure the government needs the money, NOW. And what do they sell after gold? An action of that sort shows 1) how desperate they are and 2) how ignorant they are. Deflation your ass…..