All the Gold ever extracted is 160,000 tons (in 2009) , The American Debt = 14 Trillion Dollars = 1.8 All the Gold ever extracted in Human History !!! The monetary mass in the US is increasing by 15% a year ! Total gold divided by people in the world gives each of us 23 grams
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Friday, April 1, 2011

James Turk : Gold is not a commodity its money

James Turk in in Madrid 25 Nov 2010 speaking in a conference about What is Gold : Gold is the most misunderstood asset class he says Gold is not an investment it is not volatile in fact it is not even a commodity on the same sense james Turk in another interview with called Gold not a commodity but money , James Turk : ....... because gold is not like other commodities. Gold is in fact not a commodity it's money. It's a tangible asset like other commodities but it is in a different asset class within this tangible asset group. Commodities are consumed and they disappear, gold does not get consumed, it doesn't disappear, it continues to be accumulated every year, there's about 1.5% more gold added to the above ground stock of gold - and the reason why gold is accumulated in this way is because it's money and as a consequence it has an interest rate structure that is determined by the market, so gold should be in backwardation even though interest rates don't show it.

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