Originally Posted by Cheyenne
Originally Posted by Hastings
Your scenario is essentially correct. When it comes to the nut cutting the use of gold will be outlawed just as it was in 1933. There is a huge amount of paper gold that has no gold backing it. Same thing came to a head in 1933 when there were 3X the gold certificates out than there was gold. You won’t find the big buyers holding paper. You will see.

I suspect that the little guy is a lot less likely to hold paper gold than the big dogs who deal in digital everything. (A cynical view, such as frequently found on this forum, would figure that the big dogs would get a bailout anyway. Right?) Then you threw in that the government will just make it a crime to own or possess gold. What are people going to do with their contraband gold in the meltdown? Use it to bribe their way into Mexico or Cuba?

Paper gold may be a way to cheat suckers and make money for the people who broker it, but I don't believe that there is this massive conspiracy to run the price of gold down. But, people who believe this and aren't afraid to hold contraband gold should take this buying opportunity and convert every asset they own into cheap(er) gold while they can. I'm going to sit that opportunity out. If I'm wrong, oh well.
Couple years old but pretty good explanation on gold manipulation https://www.numismaticnews.net/coin-market/is-golds-price-manipulated

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