Re: US mint is out of gold
- From: Dan <dnadan56@xxxxxxxxxxx>
- Date: Tue, 26 Aug 2008 11:26:49 -0700
Robert Sturgeon wrote:
On Mon, 25 Aug 2008 13:46:43 -0700, Winston_Smith
<not_real@xxxxxxxxx> wrote:
The Eagle Has Been Grounded
As gold prices tumbled from their highest level ever, investors and
collectors loaded up on one-ounce "American eagle" gold-bullion coins.
The buying spree came to an abrupt halt this week after the U.S. Mint
stopped selling the coins for the first time since production began 20
years ago.
"Due to the unprecedented demand...our inventories have been
depleted," the Mint -- part of the U.S. Treasury Department -- told
its dealers Friday.
[...]
http://online.wsj.com/article/SB121928079980258833.html?mod=googlenews_wsj
This has been covered in another thread. Unprecedented
demand for physical gold, and a declining gold futures
market -- something is seriously wrong with this picture.
It only reflects the consumer market. It has nothing to do with gold.
The pump is over, the dump is obvious (which means it is too late to unwind).
Dan
.
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