Scrap gold prices are hitting records lately and are directly proportional to the spot price of gold bullion or other commercial gold products. The price of commercial gold, as well as scrap gold, is rising and has been for a long time.
The private central bankers around the world are creating money as fast as they can. This, effectively, dilutes it. It takes more money to buy a certain amount of gold or anything else.
The price of gold began to rise in earnest when Richard Nixon disassociated the United States Dollar from it in 1971. When this was done, the currency became counterfeit, essentially. The private central bank was then able to create vast amounts of currency at will without justifying it with gold. They are creating it faster than ever these days and the price of gold has been approaching and even breaking its all-time record high.
Scrap gold is not worth as much as the spot price of bullion. There is work and processes necessary to turn things like jewelry into a commercial product. The scrap must be melted and refined with chemicals before it can be sold commercially. In addition, there are a few layers of intermediaries between the scrap buyer and the commercial markets.
These intermediaries make the movement of it efficient and are a necessary part of the system. They find buyers, find sellers, negotiate contracts, arrange for shipment, and arrange for the security of it. If it were not for these intermediaries, the scrap buyer would need to pay less for the scrap, and the bullion dealer would need to charge more.
Most governments go the way of the dinosaur after a few hundred years, and so goes their currencies. What remains is gold. Scrap gold is approaching an all-time high right now and as such so are scrap gold prices, thanks to the politicians of the world and their addiction to the banker’s paper money. Gold may not be the big topic that is talked about by the media outlets, but it is, by far, the most important story of our time. Visit the cash for gold insider to learn more about how you can profit from the modern gold rush.
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