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And the “one month low” on iron price hype could also be someone that wants to make money shorting the market by scaring some people. This is particularly evident when you consider price behavior, bankruptcies and supply glut over the last couple years.
The article shows how the Fed controls gold price. It’s not a real market but one that is tightly controlled by the 12 Banks of the Federal Reserve.
Jim Rickards suggest 10% of assets in gold. It seems that is high since gold can be manipulated so easily.
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Jim Rickards is interested in selling his program. If you could do a short historical search he has trumpeted crises after crises to create urgency and book sales. I bought it, once. Not the book but the line of reasoning. It is a similar presentation style used by the oilprice.com guy. My rule of thumb is if it is in an overlong video on the internet it is not news and you are not getting in early. It is so easy to get facts from alternative sources.
My view is that the gold is a storage place for value you have created in other places. It will only be by the purest luck that you make money on gold. The thought I had is the events that make the price spike make you want to hold onto your reserve even tighter.