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I own gold. But this is a lame video. They're not buying the gold because they assume some guy on the street is trying to scam them. You discredit yourself posting this junk.
India's central bank bought gold from IMF, not through the open market. However, US gold reserve still contains 10 times more gold than India's central bank gold reserve. The gold price is going up because of speculative bubble that will eventually burst, just like in 2008 and 1980. Gold is a commodity. The amount of gold is always increasing because of mining. Unlike oil, gold does't really have any indispensable practical function, so it's not a necessity. Gold is also not a legal tender.
"Prices going up" is not what inflation means. The definition if inflation: Increase in the money supply...Every time our national debt increases, new money has been created. Gold at $1100 is a consequence of $12 trillion in U.S. Treasury bonds issued. We might see a slight pullback in gold soon but we are not in a gold bubble. Economics has rules just like physics...
People, don't try to sound smart by saying I wouldn't buy it because I dont know if it's real or not or because it's off the street by some guy. That's not the fucking point!! The point is people are ignorant to what real money is. Don't stray from the topic by posting dumb shit!
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I call crap on you dude i dont know anyone who collects that wouldnt know a real gold coin!
these people are all as dumb as a box of rocks... you aren't, don't pretend to be!