https://www.rt.com/business/513867-gold-market-not-real/


Gold market is not a real market, it’s a ‘paper market,’
investment manager tells Keiser Report Gold market is not a real market,
it’s a ‘paper market,’ investment manager tells Keiser Report —

Max Keiser interviews Lawrence Lepard of Equity Management Associates about price discovery and the national debt of the United States, which is now more than the country’s GDP.

There is no price discovery in gold, says Lepard, adding that “it’s a paper market.


Jump to 13:20

https://www.youtube.com/watch?v=gaIioi-NJ7E

Quote:

..........  Worldwide gold demand amounted to 4,356 metric tons in 2019. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets. Gold supply The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with       ..............

https://www.statista.com/statistics/267360/gold-demand-worldwide-since-2002/

Supply and demand = a real market

Sprintcyclist wrote on Jan 28^th, 2021 at 8:55pm:

Quote: ..........  Worldwide gold demand amounted to 4,356 metric tons in 2019. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets. Gold supply The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with       .............. https://www.statista.com/statistics/267360/gold-demand-worldwide-since-2002/ Supply and demand = a real market

You need to watch the video.

From the video

13:20
" There can't be a clearer sign that price discovery
is impossible in this totally fake paper market.
Whilst fake paper gold is traded at $70 trillion a year,
annual mine production is a mere $213 billion."

18:39
"There are 100 paper contracts for every ounce of gold
that exists and I suspect that leverage is larger today"

Bobby. wrote on Jan 29^th, 2021 at 9:19am:

From the video 13:20 " There can't be a clearer sign that price discovery is impossible in this totally fake paper market. Whilst fake paper gold is traded at $70 trillion a year, annual mine production is a mere $213 billion." 18:39 "There are 100 paper contracts for every ounce of gold that exists and I suspect that leverage is larger today"

Haha that looks like bible quotes. Sure you havent joined morrisons prosperity cult?

Spot

Sir Spot of Borg wrote on Jan 29^th, 2021 at 9:40am:

Haha that looks like bible quotes. Sure you haven't joined morrisons prosperity cult? Spot

Just some quotes from the video giving the time in
minutes and seconds to all the lazy people here
who don't watch or read anything.

https://www.youtube.com/watch?v=gaIioi-NJ7E

'Gold market is not a real market'


bobby,

I'm not interested in the price of gold, as influenced by 'paper' trades in 'bullion'.



The current trading market price of 1oz of gold is ~ US$1,843
i.e.
If a buyer doesn't want to accept a 'certificate of ownership', the seller of the gold, has to supply the physical, 1oz of gold.

What do you believe, is a realistic, real price of 1oz of gold today ??

Do you have an opinion ?

Yadda wrote on Jan 29^th, 2021 at 12:45pm:

'Gold market is not a real market' bobby, I'm not interested in the price of gold, as influenced by 'paper' trades in 'bullion'. The current trading market price of 1oz of gold is ~ US$1,843 i.e. If a buyer doesn't want to accept a 'certificate of ownership', the seller of the gold, has to supply the physical, 1oz of gold. What do you believe, is a realistic, real price of 1oz of gold today ?? Do you have an opinion ?

I don't know Yadda,
I've heard figures as high as $100k per ounce
if our money was based on the Gold standard -
which it's not.
Economics was never my best subject -
in fact - I never studied it.

Bobby. wrote on Jan 28^th, 2021 at 9:25pm:

Sprintcyclist wrote on Jan 28th, 2021 at 8:55pm: Quote: ..........  Worldwide gold demand amounted to 4,356 metric tons in 2019. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets. Gold supply The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with       .............. https://www.statista.com/statistics/267360/gold-demand-worldwide-since-2002/ Supply and demand = a real market You need to watch the video.

No, I don't need to watch a video.
You want me to.


You need to explain WHY when there is a demand and a supply it is not a 'market.'

Sprintcyclist wrote on Jan 29^th, 2021 at 6:34pm:

Bobby. wrote on Jan 28th, 2021 at 9:25pm: Sprintcyclist wrote on Jan 28th, 2021 at 8:55pm: Quote: ..........  Worldwide gold demand amounted to 4,356 metric tons in 2019. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets. Gold supply The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with       .............. https://www.statista.com/statistics/267360/gold-demand-worldwide-since-2002/ Supply and demand = a real market You need to watch the video. No, I don't need to watch a video. You want me to. You need to explain WHY when there is a demand and a supply it is not a 'market.'

Hi Sprint,
I suppose it's because a lot of the gold is leveraged up to 100 x
on the market -
it's just paper gold - not real gold -
you tell me after you've watched the video please?

Bobby. wrote on Jan 29^th, 2021 at 6:43pm:

Sprintcyclist wrote on Jan 29th, 2021 at 6:34pm: Bobby. wrote on Jan 28th, 2021 at 9:25pm: Sprintcyclist wrote on Jan 28th, 2021 at 8:55pm: Quote: ..........  Worldwide gold demand amounted to 4,356 metric tons in 2019. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets. Gold supply The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with       .............. https://www.statista.com/statistics/267360/gold-demand-worldwide-since-2002/ Supply and demand = a real market You need to watch the video. No, I don't need to watch a video. You want me to. You need to explain WHY when there is a demand and a supply it is not a 'market.' Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please?

So you dont even understand the video you posted. And heres a clue, gold is not "leveraged".

rhino wrote on Jan 29^th, 2021 at 7:19pm:

Bobby. wrote on Jan 29th, 2021 at 6:43pm: Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please? So you dont even understand the video you posted. And heres a clue, gold is not "leveraged".

I already said
"Economics was never my best subject -
in fact - I never studied it. "

18:39
"There are 100 paper contracts for every ounce of gold
that exists and I suspect that leverage is larger today"



Are you an economist?

Bobby. wrote on Jan 29^th, 2021 at 7:20pm:

rhino wrote on Jan 29th, 2021 at 7:19pm: Bobby. wrote on Jan 29th, 2021 at 6:43pm: Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please? So you dont even understand the video you posted. And heres a clue, gold is not "leveraged". I already said "Economics was never my best subject - in fact - I never studied it. " 18:39 "There are 100 paper contracts for every ounce of gold that exists and I suspect that leverage is larger today" Are you an economist?

Absolute nonsense.

rhino wrote on Jan 29^th, 2021 at 7:25pm:

Bobby. wrote on Jan 29th, 2021 at 7:20pm: rhino wrote on Jan 29th, 2021 at 7:19pm: Bobby. wrote on Jan 29th, 2021 at 6:43pm: Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please? So you dont even understand the video you posted. And heres a clue, gold is not "leveraged". I already said "Economics was never my best subject - in fact - I never studied it. " 18:39 "There are 100 paper contracts for every ounce of gold that exists and I suspect that leverage is larger today" Are you an economist? Absolute nonsense.

Are you an economist?

Get on to YouTube and tell them they're wrong and why:

https://www.youtube.com/watch?v=gaIioi-NJ7E

Why? I couldnt give a toss what these idiots put on youtube. Its nonsense with zero evidence, case closed.

rhino wrote on Jan 29^th, 2021 at 7:30pm:

Why? I couldnt give a toss what these idiots put on youtube. Its nonsense with zero evidence, case closed.

So you call him an idiot?
You know more than the guy in the video?

https://minesandmoney.com/speakers/lawrence-lepard/



https://mk0minesandmone7001k.kinstacdn.com/wp-content/uploads/2020/07/Lawrence-Lepard-400-390x390.jpg

Lawrence Lepard economist qualifications

Mr. Lepard runs Equity Management Associates, LLC, an investment partnership which has focused on investing in precious metals since 2008. His Fund invests in emerging gold producers and drill stories, as well as larger companies which show attractive growth and cash flow. Mr. Lepard is a Director of Rise Gold Corporation and Amarillo Gold.

Prior to EMA, Mr. Lepard spent 25 years as a professional investor and venture capitalist. From 1991 to 2004 he was one of two Managing Partners at Geocapital Partners in New Jersey which managed six venture capital partnerships, the last of which was $250 million.

Prior to Geocapital Mr. Lepard spent 7 years as a General Partner at Summit Partners in Boston, MA. Summit is a large venture capital and private equity firm.

Lepard holds an MBA with Academic Distinction
from Harvard Business School
and a BA in Economics from Colgate University.

Bobby. wrote on Jan 29^th, 2021 at 6:43pm:

Sprintcyclist wrote on Jan 29th, 2021 at 6:34pm: No, I don't need to watch a video. You want me to. You need to explain WHY when there is a demand and a supply it is not a 'market.' Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please?

it is not leveraged.
If it was, that is a market. A leveraged market.
Leveraged means you pay only a deposit.

I believe you are saying 95% of the trades in gold do not result in a piece of gold being given from one person to another in exchange for cash.
Is that it ?

Lawrence Lepard is interviewed.


https://www.youtube.com/watch?v=gaIioi-NJ7E

From the video

13:20
" There can't be a clearer sign that price discovery
is impossible in this totally fake paper market.
Whilst fake paper gold is traded at $70 trillion a year,
annual mine production is a mere $213 billion."

18:39
"There are 100 paper contracts for every ounce of gold
that exists and I suspect that leverage is larger today"

Sprintcyclist wrote on Jan 29^th, 2021 at 7:38pm:

Bobby. wrote on Jan 29th, 2021 at 6:43pm: Sprintcyclist wrote on Jan 29th, 2021 at 6:34pm: No, I don't need to watch a video. You want me to. You need to explain WHY when there is a demand and a supply it is not a 'market.' Hi Sprint, I suppose it's because a lot of the gold is leveraged up to 100 x on the market - it's just paper gold - not real gold - you tell me after you've watched the video please? it is not leveraged. If it was, that is a market. A leveraged market. Leveraged means you pay only a deposit. I believe you are saying 95% of the trades in gold do not result in a piece of gold being given from one person to another in exchange for cash. Is that it ?

No - I'm making an appeal to authority that
Lawrence Lepard knows what he's talking about
and other people here don't.

You need to explain WHY when there is a demand and a supply it is not a 'market.'

Sprintcyclist wrote on Jan 29^th, 2021 at 7:47pm:

You need to explain WHY when there is a demand and a supply it is not a 'market.'

No -
you need to watch the video and try to follow
the argument of Lawrence Lepard -
the economist from Harvard University.

Tell me what you think?

Sprintcyclist wrote on Jan 29^th, 2021 at 7:47pm:

You need to explain WHY when there is a demand and a supply it is not a 'market.'

I haven't watched the video but what I take from what is being said is that there is not enough gold to cover all the owners of gold to have their gold in their hands. IE paper gold.What would happen if every gold owner wanted their gold? It'd be like a run on banks who do not hold enough money to pay it out.

Bobby. wrote on Jan 29^th, 2021 at 7:55pm:

Sprintcyclist wrote on Jan 29th, 2021 at 7:47pm: You need to explain WHY when there is a demand and a supply it is not a 'market.' No - you need to watch the video and try to follow the argument of Lawrence Lepard - the economist from Harvard University. Tell me what you think?

No, I don't need to watch a video.
You want me to.

Setanta wrote on Jan 29^th, 2021 at 8:00pm:

Sprintcyclist wrote on Jan 29th, 2021 at 7:47pm: You need to explain WHY when there is a demand and a supply it is not a 'market.' I haven't watched the video but what I take from what is being said is that there is not enough gold to cover all the owners of gold to have their gold in their hands. IE paper gold.What would happen if every gold owner wanted their gold? It'd be like a run on banks who do not hold enough money to pay it out.

Quote:

..........   What would happen if every gold owner wanted their gold?          .............

I would buy shares in gold producing companies.

Setanta wrote on Jan 29^th, 2021 at 8:00pm:

Sprintcyclist wrote on Jan 29th, 2021 at 7:47pm: You need to explain WHY when there is a demand and a supply it is not a 'market.' I haven't watched the video but what I take from what is being said is that there is not enough gold to cover all the owners of gold to have their gold in their hands. IE paper gold.What would happen if every gold owner wanted their gold? It'd be like a run on banks who do not hold enough money to pay it out.

thanks Set,
that could be it.