Msg. 41356 of 45651 (This msg. is a reply to
41350 by
Decomposed)
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Morning De:
Not sure central banks are still buying gold at the same rate as a Google search indicates. The trajectory of buying (the important thing) is certainly downward. The 2011 buying binge has turned out to be unwise, just as the prior selling at lower prices was unwise. Are central banks manipulating the gold market, or is the gold market manipulating them? We shall see. Still have no oar in that water.
A question I'd like to ask Ben Bernanke is . . . if unbacked currency is sustainable, why are Central banks around the world holding so much gold? Why are they holding ANY gold? Aren't they adherents of Keynesian theory?
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