The disconnect amazes me – the U.S. holds virtually all of its foreign reserves in gold. We are the world's largest gold holder, with more than double the amount as #2 Germany, but as a nation Americans are gold skeptics. Just this week, I was interviewed twice on television by two old-timers who are still clearly anti-gold. It appears they would prefer to live in a state of denial.
But in emerging Asia, the citizens get it. They say it's a good move because they are buying gold, too - they believe in it.
And with this purchase from the IMF, India has gone from being a price taker as a jewelry consumer to being a price maker as an investor. This is the sort of change in government policy…
But in emerging Asia, the citizens get it. They say it's a good move because they are buying gold, too - they believe in it.
And with this purchase from the IMF, India has gone from being a price taker as a jewelry consumer to being a price maker as an investor. This is the sort of change in government policy…
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