"People criticize owning bullion because there’s no yield. But there’s a reason everything else needs a yield, to compensate you for things like obsolescence risk, business-cycle risk, and management risk, all of the things that gold doesn’t have.
We’re not gold bugs, but there’s a reason humanity has tended to use gold as an alternative to man-made currency: it’s the only virtually infinite-duration asset in the world."
Matthew McLennan
"Indeed there can be no criterion, no other standard than gold. Yes, gold which never changes, which can be shaped into ingots, bars, coins, which has no nationality and which is eternally and universally accepted as the unalterable fiduciary value par excellence."
Charles de Gaulle
"The Lydian Lion coins are in significant demand because of their history, the evocativeness of their design, their metallurgic characteristics, and their mystery. Other coins may vie for the title of the world's first coin, also from Lydia, nearby in Ionia, in the Middle East, and across the world in India and China, though none do so as persuasively. The Lydian Lion is the one coin that has been referred to as "The Coin."
It directly preceded ancient Greek coinage, which through Rome begot all Western coinage, and which through the Seleukids, Parthians, and Sassanians begot all Islamic coinage. Indian coinage has largely been a product of Greek, Roman, and Islamic influences. Chinese coinage, though it probably developed independently, was succeeded by Western-style coinage in the late nineteenth century."
Gold caught an obvious hit on the Comex open that took it back down from the 1320 level.
Silver also traded sideways.
There was no serious movement at the Comex warehouses with just 3 kilo bars Brink's customer storage, and nothing coming in.
The claims per deliverable ounce have risen to 59, back to the all time high once again.
Have a pleasant evening.
