I wanna free fall out into nothing
Gonna leave this world for a while
--Tom Petty
Gold getting hammered this morning. Down $50+, or nearly 5%. Silver also down nearly 5%. Am seeing lots of comments from emboldened bears as well as bulls throwing in the towel. Whether this is a classic blow out low remains to be seen.
Personally, I'm just digging lower prices.
position in gold, silver
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About Me
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- b school prof interested in markets and freedom, among other things.
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2 comments:
"The most famous, if not the largest, vault door order came from the Federal government in 1935 for the newly-constructed gold depository at Fort Knox, Kentucky. Both the vault door and emergency door were 21-inches thick and made of the latest torch- and drill-resistant material. The main vault door weighed 20 tons and the vault casing was 25-inches thick."
The facility is ringed with fences and is guarded by the United States Mint Police. The Depository premises are within the site of Fort Knox, a United States Army post, allowing the Army to provide additional protection. The Depository is protected by layers of physical security, alarms, video cameras, mine fields, barbed razor wire, electric fences, heavily armed guards, and the Army units based at Fort Knox, including unmarked Apache helicopter gunships of 8/229 Aviation based at Godman Army Airfield, the 16th Cavalry Regiment, the 19th Engineer Battalion, formerly training battalions of the United States Army Armor School, and the 3rd Brigade Combat Team of the 1st Infantry Division, totaling 30,000 soldiers, with associated tanks, armored personnel carriers, attack helicopters, and artillery.
For security reasons, no visitors are allowed inside the depository grounds. This policy has been enforced ever since the vault opened and the only exception was an inspection by members of the United States Congress and the news media on September 23, 1974 led by then Director of the United States Mint Mary Brooks.
~wikipedia
All of this for a barbarous metallic relic?
When George Bush was informed that there might not be any gold at Ft Knox, he replied, "In that case, double the guards!"
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