http://www.dailyreckoning.com/demand-for-gold-is-in-mint-condition/
Demand for Gold is in Mint Condition
By The Mogambo Guru
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04/20/09 Tampa Bay, Florida MoneyNews.Newsmax.com had the interesting headline “Mints Rush to Meet Gold Coin Demand.” It starts off with a blockbuster statement, namely that the world is in “crisis mode”. In fact, a report by The Independent in the United Kingdom notes, “With the world economy now in crisis mode, gold coin production is rising” all over the place, with the result that, “As investor appetite for gold increases worldwide, nations which mint coins of the precious metal have hiked production to satisfy the growing demand.”
In fact, demand for gold is so high that “Sales in the United States of the one-ounce gold American Eagle coin, minted from gold bullion, soared more than 400 percent in 2008 over previous sales to 710,000 ounces” which seems like a lot until you remember that the gold mines of the world produce about 80 million ounces of new gold per year, and so 710,000 ounces ain’t really squat, in the Big Scheme Of Things (BSOT).
Even so, a spokesperson for the U.S. Mint said, “Demand for gold and silver has been unprecedented”, although you would hardly know it from my field research, where I randomly accost people on the street and ask them, “Hey! You! Are you buying and/or holding large quantities of gold as a defense against the ruinous inflation in prices that your own stupid government is causing by deficit-spending almost $2 trillion this year alone, when the GDP of the Whole Freaking Country (WFC) is only about $14 trillion, or are you some kind of moron that can’t even answer a simple question?”
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Hard to imagine how this “train wreck” in Washington is going to result in anything good for the common people. Many of the economists, who profess the Austrian School, know that without gold as money, the “Sovereign” (i.e., the King in the old days; the FED today) will debase the “currency” to the detriment of The People.
Go to the Smithsonian. See the Smithsonian exhibit of French Franc throughout history. From the hockey puck of gold from Louis 1 to the paper thin collar button of Louis XVII! It’s a visual of what every gooferment does with its power to define money for us.
We, The People, need to define for ourselves what money is. And it needs to be anchor is a value that can’t be “counterfeited” by any “Sovereign”!
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Reinke Faces Life 