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Saturday, August 20, 2011

Gold frenzy a result of weak market regulations



Here's an example of what governments do when gold is held widely by the people - - they REGULATE the gold back into the hands of the Oppressors!

Last updated: 8/19/2011 9:00 
An employee looks at jewelry at a gold shop in Hanoi. The central bank estimated individuals were holding between 300 and 500 tons of gold.
 
The recent gold frenzy has exposed several weaknesses in market regulations and it’s time to set up an official exchange to put gold trading back in order, experts said.
 
Vietnam’s gold market is highly dependent on world prices, economist Le Tham Duong said.
“The country has large gold holdings but most are kept by the public and banks. As the flow for this gold supply has been obstructed, speculators can push up prices, like they just did recently,” he said.