Nesikep
Well-known member
Aaron, My bad, I knew they were selling the rest of it, didn't realize it happened already.
back when my dad came to Canada from Switzerland in 1966, he paid 1.40 swiss francs for a canadian dollar.. now it's the other way around... the swiss franc is slightly above par with the USD... could it be at least partially because Switzerland has a gold-backed currency? Industry in Switzerland has taken some major hits (mechanical watch factories in the late 70's with the advent of digital watches is just one example).
The great argument for selling off gold stocks is that gold doesn't accrue interest, while the paper money it can be sold for does... who cares about stability.
Another great myth are gold certificates.. there are far more certificates issued than there is gold to cover them.. it's fractional reserves all over again.
My old man happens to be very informed on the conspiracy theories.. I am a bit more moderate.. I just don't believe anything.. and a lot of it is very plausible.
back when my dad came to Canada from Switzerland in 1966, he paid 1.40 swiss francs for a canadian dollar.. now it's the other way around... the swiss franc is slightly above par with the USD... could it be at least partially because Switzerland has a gold-backed currency? Industry in Switzerland has taken some major hits (mechanical watch factories in the late 70's with the advent of digital watches is just one example).
The great argument for selling off gold stocks is that gold doesn't accrue interest, while the paper money it can be sold for does... who cares about stability.
Another great myth are gold certificates.. there are far more certificates issued than there is gold to cover them.. it's fractional reserves all over again.
My old man happens to be very informed on the conspiracy theories.. I am a bit more moderate.. I just don't believe anything.. and a lot of it is very plausible.