gold and where it is goingit is certainly the most curious of...

gold and where it is going
it is certainly the most curious of commodities:

it was useful when it was a standard
it was interesting as an inflation hedge
it was predictable as a port in a storm

none of these now

the millions of tonnes that are extracted each year and sold to investor/govt banks of one kind or other must surely loom as a huge threat by each bank to another
bit like china dog usa tail
should gold be liquidated largely it is a house of cards
admittedly gold cards
but you know what they are worth

its value is not determined by supply and demand...not supply and demand in the same way as wheat or oil, which people actually need
yes a gold filling costs more than the dentist's chair
and every wedding consults gold
but a there is a lot of sentiment, more myth, and the rort of its collectibility must eventually be transparent
and the price will drop to below the cost of mining
why mine it
who needs it
this will badly impact on the commodity of cyanide
but water tables will improve -rivers will run with less sludge
for a while it will be collected like ivory
and far into the future it will be mined again
rediscovered
meanwhile over the next 50 years it will be exposed as the bubble of the 20th/21st century (20+ bagger)
banks including central banks will fail
no longer rushing to auctions to buy it from each other and effectively hold each other up
their paper money has more value
and we know some things about that
cheers