Top 5 Biggest Gold Reserves In The World

Indeed we do. I believe that he also said that "figures lie and liars figure", which is similar.



India has had a long history of gold used as a way to preserve family wealth. It is not at all unusual for a woman in India to wear several gold rings, bracelets, and necklaces made of gold. When hard times come, which they usually do, these are sold off one at a time to feed the family and pay the bills. With luck, these last until better times come and they can again collect gold jewelry to protect themselves against the next financial disaster.

Asians are acutely aware of such problems. They have seen many governments fall and their currencies become worthless. They have seen the suffering caused by dying currencies and have no desire to participate in the next one. Gold, on the other hand, ALWAYS has value, no matter who is in charge at the moment. There is a lesson in this for all of us. Those who have had experiences that we have not are telling us that gold (and probably silver too) are REAL and can weather most any financial, social, or political storm... so it is good to have some of them for financial protection.

When I look at these various sets of numbers, I want to know what they're comparing. Gold in gubmint/biz vaults?

The family gold of an Indian woman is far less likely to be dumped on the market than a country's gold reseves.

If you spent ten years accumulating 100 ounces of gold, you're very unlikely to sell it. If you bought it last month when a CD became due, a 10% rise might be plenty of incentive.

Another article on why the gold market isn't like past gold markets is the attitude of buyers from India:

http://www.streetauthority.com/exch...igher-458505

Good link Fred, thanks! This was very interesting:

Nod, where in the world did you find the weight of every person in the state of Mississippi?

Great link, certainly gives one a lot to think about!