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📺 Useful Vids 📺
– TIMESTAMPS –
2:03 Why Gold is Bought
5:09 Not Limited in Supply
8:43 Physical is a Con
11:51 Supply Chain Issues
13:30 Counterfeit Gold
15:17 Best Alternative
⛓️ 🔗 Helpful Links & Sources 🔗 ⛓️
► Gold Supply Chains:
► Counterfeit Gold: https://www.reuters.com/article/us-gold-swiss-fakes-exclusive-idUSKCN1VI0DD
► Total Gold Supply: https://www.gold.org/about-gold/gold-supply/gold-mining/how-much-gold
► Polyus Gold Deposits: https://www.bloomberg.com/news/articles/2020-10-22/polyus-says-siberian-gold-deposit-holds-world-s-largest-reserves
► Executive Order 6102: https://www.presidency.ucsb.edu/documents/executive-order-6102-requiring-gold-coin-gold-bullion-and-gold-certificates-be-delivered
► Asteroid Mining: https://www.foxnews.com/science/nasa-headed-towards-giant-golden-asteroid-that-could-make-everyone-on-earth-a-billionaire
❌ Gold is Not Limited ❌
Gold bugs are basing their assumptions of supply on what is currently in the ground on this planet. However, they neglect to mention that gold can indeed be mined on asteroids. And, as we know the universe is infinite which *theoretically* implies and infinite supply.
Take for example Psyche 16. This is an that is nestled between the orbits of Mars and Jupiter and is made of solid metal.
These metals include not only Gold but also platinum, nickel and iron. By some estimates, Psyche 12 has enough mineral wealth on it to make everyone on the planet a billionaire. The moment this gold hits the market it will make it worthless.
Gold is also constantly being discovered on earth which impacts on the circulating supply and hence the price.
✋ Gold is Physical ✋
Transporting gold is very expensive. They will have to pay for insurance, transport and other expenses. It is also really hard to move in a situation in which people have to move in an instant. We can think of a coup or some other economic collapse.
It is very hard to take gold past security at airports and many countries have mandatory reportign requirements. You will have to pay large import duties on the gold.
You also cannot store than Gold inside vaults as there is a risk that the governments go straight to those vaults should they want to take broader control of the country’s gold supply. This is something that has happened in the past.
⛓ Gold Supply Chains ⛓
Gold has to be transported to market in order to be sold. As we have seen with the pandemic shutdowns, the gold supply chain is quite brittle and there were massive shortages that were caused by the lack of commercial flights / transfers.
Add to this the fact that gold bugs were hoarding all the gold they could and you have a serious supply shortage.
There was so little gold arriving on the market in London that the spread between the Comex gold futures and the spot market was the highest that it has ever been.
What should be an effecient market can become very inefficient and illiquid with the right conditions.
👎 Fake & Illegal Gold 👎
There is a pretty big supply of fake gold bars on the market. These gold plated bars can only really be detected by those who know what to look for. And even then, some fakes are so good they fool the pros. They have even being used to obtain billions in gold securitized lending.
You also have to worry about the problem of illegal gold. This is gold that has been smuggled or illegally stamped. These are a lot harder to spot as they are high quality gold but have a history that is less than savory.
🤔 Alternatives? 🤔
Bitcoin is the best store of value as it has all the qualities that the gold bugs think they have:
– Protocol defined Max limit
– Steady supply emission
– Censorship resistant
– Hard to seize
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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