So lets chat about gold for a minute. If scarcity is an attribute, then gold’s got a lot of it. Jim Rickards was recently interviewed and he told the host that while visiting several of the most major gold refiners/minters, all of them told him that “there’s just no gold around.”
by Bob Rinear
The International Forecaster
One of the things that bitcoin lovers suggest about their digital currency is that there’s only “so many” coins that will be minted. I understand that completely, because scarcity should be an attribute of money.
So lets chat about gold for a minute. If scarcity is an attribute, then gold’s got a lot of it. Jim Rickards was recently interviewed and he told the host that while visiting several of the most major gold refiners/minters, all of them told him that “there’s just no gold around.”
Well think about it for a minute. In Russia, the head of what you could call their central bank ( its really not) decided that a full 20% of Russia’s national wealth would indeed be held in gold. On that scale, we’re not talking about ounces, or even kilo’s. We’re talking tons. They’ve amassed many tons of the shiny stuff. Then there’s China, who continues to vacuum up every ounce/kilo/ton they can find.