People like Max Keiser are saying that next year the really big financial collapse will happen.The US Fed is on QE3 and like Europe will be open ended.

In the Great Depression of 1933 gold was $ 33 per oz with average wages of $1550 per annum.This is 44 times averge wages back then.44 x $33 = $1452 The price of gold today is $1720 per oz or 18.5% more than the 1930's.However we've never had such a bloated derivative market which is 10 times the GDP of the planet.

If all the gold in the world was divided up equally among all the people they say it would amount to about $1300 per person.It is a risk buying it because of these record levels but total monetary collapse may see it go to Keiser's predictions of $7000 per oz.

Can you work out how Max Keiser arrived at the figure of $ 7000 per oz? I've just worked it out.

I think you are mad if you don't.

However only buy the real stuff, & carry it yourself to your place of storage, [a small hole holds a lot of gold], as I gather that some of those who sell it to you & store it for you, have sold a lot more gold than they have.

My research suggests about 50% more gold has been sold, with a paper certificate to prove it's yours, than actually exists.

So what is the difference, selling gold that doesn't exist, or selling 2020 bonds.

Hasbeen I find it interesting that you know more gold has been sold than is owned.
Arjay, without doubt is aware of that too.
ALL the worlds gold would not form a very big hill.
IF next year is the year, one day it will come.
It will be a constructed depression.
Not joking evidence exists to prove every one was.
I intend, if alive, to be OK growing enough food to feed me and many others.
Owe not a cent, my super will remain invested, if it is lost so be it.
BUT after? maybe more likely during the crash, when ever it comes we all have a new system of finances and who knows what, imposed on us.
In reality we do now, wealth rules always.

579,you missed the point.Hasbeen said you have to take physical control of it yourself then you don't get ripped off.

Our Govt in 1959 passed laws that allows them to confiscate gold from individuals if deemed necessary in the national interest.They will pay you a price they deem is the market value.The same laws exist in the USA.

The Royal Mint in Perth I've read,does not let you take physical possession of the gold but just issues certificates.Can someone confirm or deny this assertion?

Modern banking evolved from Goldsmiths issueing certificates for gold in lieu of people carrying around real gold which was heavy and dangerous for the owner.So the goldsmiths realised that everyone would not want their gold all at once and started issueing more certificates for gold than they had in their possession.This was the initiation of the modern banking system in which fiat money has totally taken over.

Hasbeen have you worked out how Max Keiser arrived at $7,000 per oz?

Actually in my first calculation I should have compared the price of gold today to our average wages.Gold = $1720 per oz and average wages here are 62,000 pa.62,000 divided by 1720 = 36. Great Depression 1550 divided by 33 = 46.96. Gold in real terms has not reached 1930's levels.

Hasbeen there are many other factors like Gold production and the amount of gold that actually exists.No one knows for sure.143,000 tonnes is supposed to exist.