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.
For example:
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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