Monday, August 29, 2011

Record prices spawn new wave of China gold bugs

I'm a little concerned about the proliferation of gold derivatives trading, as they are merely paper contracts, but I am enthused by the exploding demand for physical bullion.  The battle between perma-short bullion banks against the physical buyers will end badly for the former.  You can print paper into perpetuity, but you can't print an ounce of real gold.

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