"...If ever there was a need for a clear sign that private...

"...If ever there was a need for a clear sign that private investors and savers don’t trust the politicians and bankers to handle the credit crisis effectively, we got it this week with savers and investors queuing in the streets to buy bullion and gold coins.

Investors aren’t just hedging their bets with a few thousand pounds worth of gold; two of London’s leading bullion dealers, ATS Bullion and Baird & Co., have reported that the rush for gold from individual savers and investors includes many who are buying hundreds of thousands of pounds worth of gold. They even reported that at least two savers had invested their entire proceeds, even selling their homes to convert more that £500,000 into gold bullion!...

One thing is for certain, shrewd investors and the central banks have all voted on the side of gold. The central banks have moved from being gold sellers to gold hoarders, the London Bullion Market Association have reported that they are working ever longer hours just to keep up with demand, and mints throughout the world are struggling to keep up with demand..."

Full article at http://www.shelteroffshore.com/index.php/gold/more/great-gold-rush-not-just-olympians-going-gold-10085/

Comment:

Once again we can see that this makes a complete mockery of the Comex paper gold price.

Just as the US creates billions of dollars of "wealth" out of thin air by using the printing presses, so they must think they can create millions of ounces of gold out of thin air by short selling paper gold futures contracts.

Old habits die hard, I guess.