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02/04/20
14:47
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Originally posted by Skol:
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That is all guesswork...it might not support prices either, no one knows yet, but it's not looking promising. Especially as the world descends into recession, I can't imagine too many out there stackin' gold bars when there's mouths to feed and mortgages to pay. Russia and China purchases, the staple diet of goldbug posts on the gold forum for years is deader than a dead dingo's donger. All those 'very clever' Chinese and Russians have finally worked out that spending tens of billions on gold was a complete waste of time....and money.
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They swapped currency for money. 20% of their economy is as good as gold. Gold is money, everything else is credit, said that JP Morgan bloke, that has got some into this situation.