The $10K Per Ounce Figure
January 5, 2018 Leave a comment
Gold bugs tend to get long term trends right.
They however routinely make the mistake of thinking that others are as cautious, prudent and willing to err on the side of caution as they themselves.
Most of the world is not.
So their scenarios tend to pan out, but not before may others have been acclaimed right and then proven wrong by time.
Read what Jim has to say and think about it if ever you are contemplating getting rid of old gold stocks and going gold free. But don’t waited with baited breath to realize such prices either.
Physical gold is prized as “real” money in that in physical terms it is tradable for remarkably constant quantities of staples such as wheat or a fine set of clothes ,across cultures and down the ages.
In 1910 the British GOI increased the import tariffs on silver from 5% to 11%. A market report in 1912, by Pixley & Abell, a gold wholesaler, pointed to a 28% fall in silver demand in the Indian bazaars in the three years following the increase. They attributed this to not just a fall in demand for silver due to tax increases, but also a substitution of gold for silver in people’s savings as gold became more attractive on a relative basis.Between 1910 and 1930 net imports of silver in India fell from 98m ounces to 31m, according to British Geological Survey reports. After this time India gradually became the world’s largest gold consumer, a position it finally lost to China in 2015.
Paper Investors have a fundamental difference in thinking from those who prefer tangible assets.
wealthymatters 