2010-08-21 — lvrj.com
Scott said his shop buys and sells $300,000 to $400,000 in gold and other precious metals (silver, palladium and platinum) every day and has $2 million to $3 million on site and in stock. And he said he's seen a recent shift toward net gold buying and away from net gold selling.
Sadly there is way too much quoting of Jon Nadler, from Kitco, who is well-paid to always be bearish on gold. (Fractional-reserve precious metals certificate programs are popular at Kitco).
We can assure Nadler that $2,000 gold doesn't require armageddon -- it simply requires that governments have to print to monetize a relatively small fraction of all the bad debt that is in the system. Even just monetizing a fraction of their own obligations would do it.
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