The National Inflation Association, for whom I have a great deal of respect, offers this video as proof that we have no bubble in gold. I suppose that the rationale is that there must be many gold sellers to support all these gold buyers.
OK, so there are quite a few buyers in Atlantic City. Still, I have some serious doubts about exactly what this situation, in this location, means.
It looks like few, if any of these businesses buy gold "full time."
Who is selling anyway? Down on their luck gamblers or investors? I have a guess.
Is anyone selling coins or bullion, or is this all jewelry?
Bottom line is this. While I agree with the NIA's premise, that gold is not in a bubble and has a long way up to go, I don't think the evidence in this video offers any type of proof. And I still can't wait for their next video.
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