I wanted to place an order for some Gold and had a chat to a broker at the Gold coin exchange. He told me that there are no KrugerRands as of yesterday. He said for the 3rd time in 2 years, there were no gold coins available for a given day.
S.Africa: Shocker: We ran out of Gold coins - KrugerRands! - A shortage of Gold coins?
Date Posted: Tuesday 04-Nov-2008
He told me that they got an order for 5,000 gold coins from Switzerland and there is a rumoured shortage of gold coins in Germany.
He told me something about America putting a stop to all gold coin sales for quite a while - we reported this on AC a while back. Then he said that in America they had forward-sold something like 200,000 tons of gold and that was why they had put a halt to trade. (I don't quite understand it myself).
But yeah... interesting... people are buying gold despite market manipulation.
I see some of the charts predict the Dow Jones will rise to about 2,500 points. That is of course after a worldwide bailout. But do these loony Govts think you can keep markets going up forever? What's the bet that that market will rise somewhat and will then come crashing down again since we are in a bear market.
Anyway... I was quite astounded to see that we were short of KrugerRands, even if it is only for a day or two!! Not ONE available to buy in Johannesburg - once the golden city.
The current price of a KrugerRand is: R8,000 for a 1 oz coin. And R1050 for a 1/10th Oz coin.
So, perhaps the lesson is: When you get your gold, hang on to it.
Posted By: Jan
AfricanCrisis Webmaster
Author of: Government by Deception
Tuesday, 4 November 2008
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