If you even bothered to take a look at the gold holding with the BIS, you will find that they are adding to their gold position.
Central banks are buying, not selling gold...
What a stupid post.
and after they are out their gold then what????? that gold sale will be absorbed by the market very quickly and the cash the statists raise will be spent very quickly and THEN WHAT????????????
Dollar is hugely overvalued versus gold at $1600/ounce. At $10/hour burger flipping job could generate enough cash to buy a human beings lifetime allotment of gold (0.75 ounces) in 3 weeks, less if one works OT. This is proof dollar is hugely overvalued. It should be closer to one year than one week!
They should be buying gold at these prices not selling.
Absolutely correct that the dollar is overvalued. Value of the dollar in 2011 analogous to the value of real estate in 2007.Just as owners had equity loans in 2007, today the Treasury is borrowing wildly against the "value" of the dollar and accumulating as much debt as possible. There will be a fortune to be made going short on the dollar just as fortunes were made going short on real estate. Sad time for America. Best to go long on gold and short the dollar.
You are right in one aspect. There is no excitement in gold, despite record prices. There are more negative, than positive for the future of gold. Hardly any American hold's any gold. I only hold gold miner's, because they pay a dividend.