The US is sinking ... sinking ... sinking, page-57

Sorry I posted the wrong article (the second link) here is the correct one;

http://www.foreignaffairs.com/articles/142114/alan-greenspan/golden-rule

Also, you ask about manipulation and price fixing. The ACCC's job in Australia is to prevent anti-competitive practice but thats just here.

"I confronted the issue again as Fed chair in the 1990s, following a decline in the price of gold to under $300 an ounce. One of the periodic meetings of the G-10 governors was dedicated to the issue of the European members’ desire to pare their gold holdings. But they were aware that in competing with each other to sell, they could drive the price of gold down still further. They all agreed to an allocation arrangement of who would sell how much and when. Washington abstained. The arrangement was renewed in 2014. In a statement accompanying the announcement, the European Central Bank simply stated, “Gold remains an important element of global monetary reserves.”


So I throw the question back out to Skol, Timber & SG. Do you think you know more than the former US Fed chairman?

Here are some golden rules for you Skol;

1. The ECB says gold remains "global monetary reserves" so it is a currency.
No questions are raised when gold or direct claims to gold are offered in payment of an obligation; it was the only form of payment, for example, that exporters to Germany would accept as World War II was drawing to a close.
2. According to Alan Greenspan (who would know more about gold than you) says that gold is manipulated.
They all agreed to an allocation arrangement of who would sell how much and when. Washington abstained. The arrangement was renewed in 2014.

Let me save you the hassle of posting another CNBC, Bloomberg, WSJ article that says gold is going down. How about you dispute the above with quoted arguments.

I will repeat - I am not a gold bug. What I do hate is when someone comes on here with a one sided argument and wont look at both points of view. I am also inclined to think that as you keep pointing out that there was a 19 year bear market (that seems ingrained in your brain) that you got burned last time.