Physical Gold Is on the Move
May 15, 2009 by
Filed under Articles
Trace Mayer submits:
On 16 December 2008 in Oil Majors Should Just Buy Real Gold I wrote
The entire eligible COMEX stockpile represents an immaterial 0.36% of the current assets of the five oil majors. The oil majors could drain the COMEX with a rounding error. It would be 14% of what Exxon Mobil was spending per quarter buying back stock. Why buy back stock when oil is so cheap compared to gold? Why not just buy physical gold and truck it away?
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