GOLD PRICES: a physical gold shortage, a "paper" gold surplus
Official COMEX gold future numbers are completely divorced from reality and banker manipulation is rife.
Panic buying of physical gold has gripped Europe, as consumers fear their savings accounts are no longer safe in light of numerous bank failures, prompting dealers to run dry on gold bullion, which in turn is driving up premiums.
Respected bullion dealers who charge lower premiums because they are able to buy gold in bulk are still slapping customers with $150+ premiums - and judging by the continued dearth of one ounce coins such as the American Eagle and the Austrian Philharmonica - people are perfectly willing to pay the exorbitant premiums.
The true value of gold is what people are prepared to pay to obtain it,
and judging by that criteria, the actual value of gold is currently around
$1,100 an ounce based on a conservative estimate. The official spot price of
gold is currently around $840. Central bank manipulation is keeping the price
in check. For more detail about this, read my other gold
manipulation post. Here is another must read article!
If you have saved money or made money because of this blog, tip me. For $3 you get to download my seminars. They teach you how to save $130,000 over your lifetime by smarter spending, how to make money in bear markets, and how to earn $800 a month in your spare time!
