A thumbs up from me Tazmac. Mind you at an organic greengrocer...

A thumbs up from me Tazmac.

Mind you at an organic greengrocer store I shop at the owner said I must be pleased with gold. I guess that's because, unlike supermarkets, the owners and employees get to know the regulars on a first name basis.

Anyway, I politely pointed out that as gold hit US$880 thirty years ago it's only mainstream media talk that is misleading people into believing that gold is expensive at US$1300. They don't compare gold's price increase with the price increase of everything else over those 30 years and with the increase of wages to show that gold is actually inexpensive.

One employee actually had some idea of paper trading when he noted that the markets are trading in a lot of paper today. He was quite surprised when I explained that is a way of creating a supply that does not exist in the real world. I pointed out that in London one million ounces of paper gold sold is only backed by 10,000 ounces of real gold. This is a paper manipulation of gold, selling short what is impossible to be physically delivered by the sellers.

He actually worked out there could be a serious problem if the buyers demanded delivery of that gold owed to them by those paper contracts!

Yes. The word is gradually getting out.