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Gold

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Gold as a way of paying debts

Gold as a way of paying debts

Can someone explain, why Portugal, Italy and USA won't sell their gold to their debts?

If I had debts / gold I would sell my Gold to pay my debts.

Cheers

Robot
 
Can someone explain, why Portugal, Italy and USA won't sell their gold to their debts?

If I had debts / gold I would sell my Gold to pay my debts.

Cheers

Robot
Because the USA is huge enough to scare the tulip out of creditors and Portugal and Italy both have long histories which have seen currencies come and go, states come and go, empires and world wars come and go and if the euro collapses then frankly why should they give a tulip? The Italian government will end up sitting on a big pile of gold, drinking the world's best wine, staring at some Michelangelos and Canalettos on the walls, laughing at the whole world and asking 'so who's broke now?'

The secret of slow wealth and old money; never sell the family silver, even if you have to starve for a while (which the Portuguese and the Italians won't because they have enormous agricultural sectors).
 
Last edited: 14:07
like telling people you're rich?

No like telling people when they have a fundamenatal and basic misunderstanding of how the markets work.
In other words the available evidence suggests that for all practical purposes, for the individual investor, "tehnical analysis" = astrology.
HTH
 

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