 Thanks for your response. It is appreciated far more than the lone up arrow my comment garnered.
i could not help but notice that you made no mention of my first 2 points. As you tackled the rest of them in order, am i to take it that you failed to do so because you agreed with them?
In attempting to answer my question of who was buying, you stated that you along with everyone you know were buying. However, you were far from clear on this. My point had to do with the paper market. As you know, the paper and physical markets are 2 different animals. You stated that you did buy some physical. The question is did you buy paper contracts? Those who did got taken to the cleaners. Those who bought physical will one day be able to profit from their action. So, unless you and everyone you know was buying paper contracts, you have not answered my question.
This one is probably my fault in that i used the term Keynesian as those who make use of this site like to do. In reality, Keynesian economics is not being employed by the current crop of crooks heading our governments. Keynes advocated a 2 pronged approach to the problems we face. The one we all know about was adding liquidity. The other was lowering taxes. To my knowledge, no government exists today that is lowering taxes. So, we ought not to knock Keynes.
As for the documentation you alleged has been presented here regarding the purchase of gold by China, none exists. That is pure conjecture. China has not reported on their official gold holdings for 3 or 4 years now. Indeed, the last official announcement to come out of China concerning gold, as reported in Xinhua, was that they had enough and would not be adding any more to their reserves. But if you could point me in the direction of real documentation to that effect, it would be appreciated.
Your point about the men in black suits who will come knocking at the door was about as clear as mud. Did you mean by it that they would be coming to "nail to the wall" the price manipulators or that they would be coming to confiscate gold? Given how the rule of law has done a vanishing act in America, (to say nothing of past history) the second possibility seems the more plausible. Yet i suspect you had the former in mind.
While you are free to see the advice of Schiff and others of his ilk as being sound, you can only do so with the proviso that timing does not matter. But time does matter. There is a time to buy and there is also a time to sell. Anyone who claims otherwise is not only a dullard, but poorer.
As for all the evidence that banks have been in hyper-drive printing money, no, i have not missed it. And what is more, it is true. i also understand that when too much of it has been created, the law of supply and demand kicks in and it loses its value. That being said, it must be asked, why hasn't the law of supply and demand kicked in? Let me explain that it has never stopped functioning. What you and so many others have failed to recognize is that capital destruction has out paced capital creation by roughly a 2:1 ratio. They have not been able to print quickly enough. You cannot look at but one side of the equation and expect to come up with the correct answer. Such simplistic reasoning leads only to the poor house.
Your contention that gold is as necessary to human life as is breathing and eating was, to put it mildly, rather bizarre. You may want to reconsider that bit of hyperbole.
As i have already dealt with much of your penultimate point, i will not rehash it. But the point you made about most folks becoming Austrians without even knowing what that means is simply not true. Very few people own any gold at this time and while my evidence for saying so is only anecdotal, i can point you to the U.S. national debt clock for real evidence that cumulatively, Americans are continuing to increase their personal debt loads at roughly $1 million per minute; not getting out from underneath their debt as you claimed.
Like that putz, Sharpt, you have put words in my mouth that i did not utter. i never once referred to Austrians as terrorists.
And now allow me to address the over-arching theme of your post: the wisdom of common sense. Common sense is not always correct. Indeed, it can and has led to some very incorrect conclusions. Common sense led mankind to believe that the earth is flat and that the sun orbits the earth once each day. Common sense is employed by those with lazy minds who cannot be bothered to investigate what is really going on. It is those with uncommon sense that lead mankind forward, always questioning their own assumptions and in so doing, discovering that their notions of contrafactual definiteness were mistaken.
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