Comments by "Bob Roberts" (@YourHineyness) on "China’s Gold Prices Drop Sharply, Gold Stocks Crash, and Gold Shops Flee Overnight | Fake Gold" video.

  1. It's insurance against an economic crash wiping you out financially. Sort of like "break glass in case of fire" type of thing.
    2
  2. It's gone back up already. Welcome to the gold market kid.
    2
  3. Because being crooks is a basic part of Chinese culture. They've always been crooks.
    1
  4. Exactly. It appears the average Chinese is too greedy to question something that doesn't make sense. What benefit does the shop get for paying you for the pleasure of storing your gold "for free"?
    1
  5. The CCP controls the price of gold in China. Perhaps it dropped in China for some reason known only to the CCP.
    1
  6. The bullshit. That's real enough...and it never ends.
    1
  7. I still won't buy Chinese gold Pandas. In the last few years instead of being 1 oz. (31.1 grams) they are 30 grams, which is 96.5% of an ounce. They probably assume people won't notice. There's too many different other coins to buy, avoid Chinese.
    1
  8. That's why it's call jew-ellery.
    1
  9. I don't know whether it's fake news or the average Chinese is that greedy and stupid. Kind of a toss-up.
    1
  10. I calculated some of the price per gram quoted in the video and they were paying over $3000 per ounce!
    1
  11. In April of 2014 gold was about $1300 per ounce. Right now it's $2392 per ounce. That's up almost 85%. If that's "barely moving" I'll take it all day.
    1
  12. I believe Bitcoin is not allowed in China.
    1
  13.  @alviolampis  I suppose, since it's China, they could just make it the death penalty if you are caught trading it. They may not be able to seize your Bitcoin but they could seize you and throw you into jail until you turn it over to them. In China they can pretty much do whatever they want. Scary.
    1
  14. Never let someone store your gold for you. Don't even keep it in a bank safe deposit box. Have it in your home. There's a million places to hide gold in a normal home. Have it where you can lay hands on it at any moment. It you don't hold it you don't own it.
    1
  15. @alexcorbel6267 From what I understand the CCP controls all gold production in China. They even have a special police branch that guards the mines. I would suspect the CCP also controls the price of gold in China too and perhaps they dropped the price in China for some reason. Perhaps to lure in more buyers. Gold purchases in China require all sorts of personal information so that the CCP knows who owns the gold and where it is so they can later confiscate it like Mao did.
    1