Lizb
Member
In the latest Generative Energy interview Ray said the gold reserves had depleted to the point where we had basically run out of money. Can someone tell me where the gold has gone? How do you run out of gold?
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Run out of gold reserves?
- Thread starter Lizb
- Start date
Quelsatron
Member
- Joined
- Jan 1, 2020
- Messages
- 484
I thought he meant in the sense of gold promises vastly outnumbering the actual gold reserves.
If everyone wanted to convert their Gold ETFs to physical gold, we would quickly find the emperor has no clothes. (evern the physical gold backed ETFs)
The gold reserves the US claims to have do not get audited, and are a fabrication.
Most gold is held in government reserves and personal vaults.
The gold reserves the US claims to have do not get audited, and are a fabrication.
Most gold is held in government reserves and personal vaults.
OP
Lizb
Member
Thank you very much.i understand that.
tankasnowgod
Member
- Joined
- Jan 25, 2014
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- 8,131
Gold isn't really used as "money" today. Mostly, it's just bonds. Nothing is the current system is backed by anything. If you look at a Federal Reserve Note, it's clear it's just a promissory note.
People like Ted Butler have talked for years about how the price for Gold and Silver are manipulated, and how there are at least 100 (or more) "paper ounces" for every real physical ounce held somewhere like the COMEX. Most don't take delivery of physical on those contracts, and they are just settled in fiat money. You can see what happens to the price if some entity started to take delivery by looking at Silver and the Hunt Brothers in the late 70s.
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