Gold is the Next Bitcoin. It Could Skyrocket.
Greg Weldon analyzes the most recent developments in the economy and why we are headed for stagflation. He also analyzes Fed Policy, Gold against the Stock Market, Gold Miners, Juniors and Silver.
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Whistler Blowers, Insiders
I remember a YouTube video of a man of wealth who purchased gold. It was maybe 2007 to 2009 time frame.
His wife needed surgery and he decided to pay the $400,000 bill in gold. The gold was assayed before being accepted and was worthless.
The man found out it was no real gold, and if I remember it was not gold bars with serial numbers on it, not something traceable.
He claimed to have purchased it all from a single gold dealer, and that dealer claimed, the man has no proof they sold him “that” gold. In other words, the dealer claimed all gold sold by them came from a warehouse in China, but they can’t prove the gold this man had was gold they sold him because they never handled the gold he purchased.
Sometimes later there was news of China executing dealers of fake gold.
When dealing with gold, it will be either gold for gold, gold for cash, or gold for goods. People who bought goods to barter with will want goods in exchange. I give my vodka for beans and rice, not gold that I can’t verify as real.