Huge Demand For Physical Gold And Silver

[Taco]

The metals price crash this last week only applies to paper(COMEX) gold and silver and not the real stuff. The ratio of paper traded gold to physical gold is about 100:1. Gold and silver are the only world currencies that are undervalued the other currencies are just paper with numbers printed on them.

Unprecedented Demand For Physical Gold And Silver
http://www.zerohedge.com/news/2013-04-2 ... and-silver

Chinese Gold Exchange Sold Out
http://www.zerohedge.com/news/2013-04-1 ... witzerland

US Mint Sells Record 63,500 oz. Of Gold In One Day
http://www.zerohedge.com/news/2013-04-1 ... ld-one-day

[Contrarian Expatriate]

Gold and silver are not currencies, they are commodities.

Also, the demand for them has been steadily going DOWN, hence the tattered state of gold mining stocks which have been in free fall for over a year.

I still believe in owning precious metals, but people need to know what they are and what they are not. If you feel the dollar will plummet in some years or there is an economic doomsday coming, you should stock up on some to preserve your wealth. But they are still at high levels and are likely to revert to the mean in due time.

[Devil Dog]

The metals price crash this last week only applies to paper(COMEX) gold and silver and not the real stuff.

That is not correct. Silver and gold are available to buy, Silver Eagles, Maple Leafs, etc. Premiums are higher but that is always the case when prices go down.

[Taco]

Something I found today...

[Winston]

Gold and silver are not currencies, they are commodities.

Also, the demand for them has been steadily going DOWN, hence the tattered state of gold mining stocks which have been in free fall for over a year.

I still believe in owning precious metals, but people need to know what they are and what they are not. If you feel the dollar will plummet in some years or there is an economic doomsday coming, you should stock up on some to preserve your wealth. But they are still at high levels and are likely to revert to the mean in due time.

CE and Taco,
There's something I don't get. If FDR outlawed gold in 1933 and made it punishable to have any gold, then how do people buy gold today? Isn't the 1933 law still in effect? Or has it been revoked?

Also, why did FDR do that? What was the excuse he gave to the American people for that? He must have given some positive sounding excuse, not something like "because it benefits the bankers" right?

[Contrarian Expatriate]

Gold and silver are not currencies, they are commodities.

Also, the demand for them has been steadily going DOWN, hence the tattered state of gold mining stocks which have been in free fall for over a year.

I still believe in owning precious metals, but people need to know what they are and what they are not. If you feel the dollar will plummet in some years or there is an economic doomsday coming, you should stock up on some to preserve your wealth. But they are still at high levels and are likely to revert to the mean in due time.

CE and Taco,
There's something I don't get. If FDR outlawed gold in 1933 and made it punishable to have any gold, then how do people buy gold today? Isn't the 1933 law still in effect? Or has it been revoked?

Also, why did FDR do that? What was the excuse he gave to the American people for that? He must have given some positive sounding excuse, not something like "because it benefits the bankers" right?

That restriction was rescinded under President Ford. The rationale at the time was to prevent people from hoarding gold bullion. We were under the gold standard at the time and it was thought that private ownership of gold was a risk to economic recovery.