Quote:
Originally Posted by Ethersync
You mean buying GLD vs. physical gold? Most people I know own physical gold. I have a couple million in physical and zero "paper" gold. I am investing in gold and have no plans to sell anything anytime soon. People that trade gold often use GLD because it's easier to transact. I don't really trust it.
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Nice, but most people don't have physical gold... being that you do, I have a question. If the economy's around the globe fail; who, what and how would you exchange your gold?
Gold has value because people are buying GLD like mad.. making the demand go up, when the supply is solid. If banks or reserves aren't exchanging gold, because they have nothing to exchange it with (a eco issue) - how does it have value?