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Written by Roger Singh of D.R.E.A.M. System, LLC at http://www.alluvialgoldconsultants.com/
The alluvial gold dust industry is a breeding ground for fraud and scams. This unregulated, never closely watched, internet based industry is plagued with scams. Many of the world governments try to prevent this, but they under estimate one very important component, the component of "greed".
Greed is why I see so many grown men cry in the last five years of being in the alluvial gold dust industry. These gold Buyers and gold Sellers let their guards down in hope of prosperity. The gold Buyers send their life savings to a stranger that they never met, that pretends that fiat money is someway better than gold, half way around the world. The gold Sellers send gold dust to burnt, unremorseful, revengeful gold Buyers that will do anything to get out of the position that they were put into by a fraudulent alluvial gold transaction. What a vicious cycle!
The answer to the problem is quite simple. First, put a set of procedures that EVERYONE must follow. That includes gold Buyers, gold Sellers, and gold Intermediaries. Second, have the person or company that you are dealing with be vetted by a neutral third party. They will have no reason to lie to you. Lastly, always utilize local resources that you can trust. An example is your banker, lawyer, consultants, etc. Build on people you can trust and go from there. If you do it backwards, you might be the next grown man or woman crying in front of me. How much longer can we be oblivious to this corrupted system? Let's all start by educating ourselves.
Tuesday, November 17, 2009
Wednesday, November 4, 2009
India Buys 200 Tons of Gold- Move shows little confidence in the dollar
Posted by 247 wallst on Tuesday, November 3, 2009 12:17 PM
The dollar is still losing its luster as the foreign reserve currency of choice.
India has bought 200 tons of gold from the International Monetary Fund at $1,045 an ounce, which is close to a recent record high of $1,070. The entire transaction is worth almost $7 billion.
The move is seen as a way for India’s central bank to move some of its capital away from investments in the dollar.
The IMF may sell another 200 tons of gold in the relatively near future and most experts expect that the buyer will be China, which has foreign currency reserves of $2 trillion and might like to have its own hedge against the value of the American buck.
India is being explicit in its concern about the long-term value of the dollar. One senior official of the central bank there told The Wall Street Journal, “It makes sense to buy gold as it will appreciate more than the U.S. dollar.”
The equity markets may stay volatile as the global economic recovery stays uncertain, giving central banks and investors another reason to move to gold as a “safe haven”.
The transition to the commodity may drive down the dollar’s value even further, which could help U.S. exporters, but that is bound to increase the concern that the dollar is no longer the most important exchange currency.
Top Stocks writer Douglas A. McIntyre is an editor at 24/7 Wall St.
To read more about this article, please click here http://articles.moneycentral.msn.com/Investing/top-stocks/blog.aspx?post=1351070&_blg=1,1351070
The dollar is still losing its luster as the foreign reserve currency of choice.
India has bought 200 tons of gold from the International Monetary Fund at $1,045 an ounce, which is close to a recent record high of $1,070. The entire transaction is worth almost $7 billion.
The move is seen as a way for India’s central bank to move some of its capital away from investments in the dollar.
The IMF may sell another 200 tons of gold in the relatively near future and most experts expect that the buyer will be China, which has foreign currency reserves of $2 trillion and might like to have its own hedge against the value of the American buck.
India is being explicit in its concern about the long-term value of the dollar. One senior official of the central bank there told The Wall Street Journal, “It makes sense to buy gold as it will appreciate more than the U.S. dollar.”
The equity markets may stay volatile as the global economic recovery stays uncertain, giving central banks and investors another reason to move to gold as a “safe haven”.
The transition to the commodity may drive down the dollar’s value even further, which could help U.S. exporters, but that is bound to increase the concern that the dollar is no longer the most important exchange currency.
Top Stocks writer Douglas A. McIntyre is an editor at 24/7 Wall St.
To read more about this article, please click here http://articles.moneycentral.msn.com/Investing/top-stocks/blog.aspx?post=1351070&_blg=1,1351070
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