Apple buying a third of world’s gold to meet demand for iWatch. Apple plans to start producing more than one million units per month in the second quarter of the year, anticipating high demand from Asian markets, mainly China.Josh Centers, from TidBits, estimates that each gold watch will contain 2 troy ounces (62.2 grams) of gold. So, based on the estimated sales figure, he concludes that Apple will need 746 tons of gold a year, or about 30% of the world’s annual production.
No it isn't....... If you look at a chart of the U.S. dollar index it has gone nearly parabolic in the last few months… In any market that is so one sided, that is accelerating so rapidly, that trend will end… it will most likely end in a fairly violent fashion-Greenspan
the exchange between himself and Greenspan at the conference went something like this:
“In private conversation I asked him, about the outstanding debts and my thesis that the debt load in the U.S. and in Western economies has gotten so great that there has to be some monetary depreciation. Specifically he said that the era of quantitative easing (QE) and zero-interest rates policies by the Fed…we really cannot exit this without some significant market event. By that I interpret it being either a stock market crash or a prolonged recession, which would then engender another round of monetary reflation by the Fed.
He thinks something big is going to happen that we can’t get out of this era of money printing without some repercussions – and pretty severe ones – that gold will benefit from.” [emphasis added]
When Lundin asked Greenspan where the gold price will be in five years, without giving any specific figures, he answered with “measurably higher”.