How tumult in financial markets affects you—if you're a coin collector
Reuters reports:
The U.S Mint said Thursday it was temporarily suspending sales of American Buffalo 24-karat gold one-ounce bullion coins because strong demand depleted its inventory...
Coin dealers from the United States to Canada have recently reported a surge in buying of bullion coins and other gold products as troubles in the financial markets prompted people to seek a safe haven in precious metals.
Barbara!
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Barbara, what year is it again? I can't believe we're back to the good ol' gold bullion coins. That signals to me desperation on the side of investors, and whole pile of uncertainty. We only usually see these drastic surges in demand, in recessionary periods. Is it safe to say we've arrived? I read a post today I thought you might find interesting… it goes “Absent serious controls over how participants in the U.S. ‘capitalistic system' behave – which ‘controls' obviously would be oxymoronic to a ‘free enterprise' system – the current Bill before Congress as finally settled likely will simply result in is ‘more of the same'.” http://www.stockresearchportalblog.com/ Big comment, and I do agree that we will be seeing more of the same, as were are not delving into the heart of the issue. Rather we are simply proposing temporary solutions and focusing on the immediate term. Perhaps this has something to do with the upcoming election around the corner? From my pysch classes I do remember a term used called: the “recency effect” which simply means we tend to remember the most recent occurrences to create decisions today. Whatever you call it, it's tied to our depletion in our gold inventory. I just hope the next president has a long term frame of mind.
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