Just out of interest my PNG gold company was on the Sepic River Wewack with local land holders. It turned out I became more of a philanthropist than gold miner but a very enjoyable part of my life just the same. That’s wild country I can tell you, cannibalism was still talked about in those days and once they found out I was born in Yorkshire the cook diced up a large snake and rolled out some pastry and that night we dined on the dish prepared in my honour:
Snake and Pygmy pie! Sorry I digress.
You wrote:
“A very wealthy investor I know just stated that people will buy gold in a crisis - and that he buys it because others will run to it. Is it rational? Maybe not however people will do the same thing we are predictable”
I was just writing the following. Maybe we have such a crisis to observe shortly and no so very far from our very own Australian back door!
Just a note to those reliant on the FHS Fashionable Hope Strategy those with their future held inside the paper system either by choice or necessity.
You may wish to keep your eye on Vietnam over the next couple of days and see how well the people there with their money inside the paper system do!
“More than $240 million was withdrawn from ACB on Tuesday, the Tuoi Tre newspaper said, while the price of gold has surged as savers scramble for a safe haven. News of Hai's arrest emerged after ACB branches had closed Thursday.”
There’s that sentence once again containing such words as Gold Scramble / Safe Haven.
I don’t know about how you feel but an orderly move into gold since 2002 sounds like a better plan than being involved in something so vulgar as a scramble, heavens one could take the knee out of one’s trousers in a scramble!
It may be too late for those inside the paper system in Vietnam and others that simply choose to continue to hope and pretend all is well in the financial world at present.
Just thoughts shared in good faith and something to watch in the coming days and how did Soros know this was going to happen?
