Gold Buying Panic
In China: 10,000 People Wait In Line For Their Chance to Own
Precious Metals June 15, 2013
One day in the near future
Americans will finally realize that their money is being
devalued at a rapid pace. For the time being the price increases
are somewhat muted by official announcements of inflation
being under control at around 2% and purported economic
recovery on the horizon. The Federal Reserve and the US
government are doing everything in their power to maintain
a perception of stability.
But what happens when all the machinations
are proven to be fruitless during the next stock market
crash and currency crisis?
That’s when people panic. That’s
when they start mass selling assets that hold no true value,
and shift their capital to physical goods that store and
In China, where the central government has
manipulated the currency, economic and financial markets
for decades, the people have seen it all before. And they
aren’t taking any chances.
While the paper price of gold and silver
may have dropped nearly 25% this year, it’s clear
that demand in the real world is soaring.
If you want to know what it’s going
to look like in front of precious metals dealers when confidence
in our government’s ability to manage this crisis
is finally lost for good, then look no further than the
streets of China.
The following pictures, taken in Jinan in
the last 48 hours, depict some 10,000 Chinese citizens lining
up to buy physical gold, providing all the evidence you
need for the argument that gold is, in fact, money.