Gold is going up up and away just like house prices did when credit was free flwoing. In the aftermath of the HPC we are discovering that the money that fuelled the boom did not, in large part, exist. The CDOs, AGT, MMPs etc. that people used to fuel HPI turns out to be illusory. Is it possible that people are buying more gold than exists? A massive ponzi scheme just like houses? Can the gold pedllers really be trusted if the physical was called upon?

Hi Rbear, I just joined and am happy to be a part of your great forum here. I have been buying PM's since 2004 when silver was $6 an ounce here in OZ. I have not tried to pin down the amount of paper siver and gold in options or EFT or the like but I wouldn't put a cent in them myself. I think the figure I heard was 100:1 paper to physical and that even the eft's don't hold all the physical needed to back up the digital shares they offer. Anyway this is what I have been hearing around the web. I used to post on gold-is-money and we would say "If you don't hold it, you don't own it." And that includes reserved gold at places like the Perth Mint. Anything can happen in times of great economic stress and from histories read, often does.