Monday, August 01, 2011

All That Glitters

Not too long ago, I said that when the dollar tanks, which could be very, very soon, whoever owns the gold is top dog.

Gold prices hit a record $1,632.8 an ounce Friday, reflecting a nervous rush by private and national investors from stocks, dollars and euros to the safe-haven commodity.


As it happens, the United States is the world's biggest Goldfinger with 8,133 tons in reserves, more than twice as much as number two Germany.

But the bulk of that treasure is stored at the famous Fort Knox and at West Point, while the gold below New York mostly belongs to 36 foreign governments seeking not just financial, but physical safety.


An inscription at the entrance to the vault -- gold-colored, naturally -- quotes the German writer Goethe: "Gold is irresistible."

Raw Story

I’m surprised at them. The foreign governments. Would you trust the US to keep your treasure for you?

....but hey, do what you will anyway.

No comments:

Post a Comment

Comments are moderated. There may be some delay before your comment is published. It all depends on how much time M has in the day. But please comment!