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Edmund Moy, former U.S. Mint director, on how concerns over the fiscal cliff have sent investors flocking to gold.
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Fiscal cliff survival -- -- fiscal -- fears -- sent demand for gold coins soaring.
US -- sales and American eagle's.
Sweeping -- 131%.
Last month hit their highest level in more than two years have been more like the former director of the meant and now -- Morgan gold chief strategist.
Seven thanks for being with us when you hear that kind of intransigence between the two parties what do you honestly think about gold -- Well pop -- the reason why have a smile on my face is a lot of my friends know that I served at the White House or when Ben Bernanke was on the council economic advisors.
And also former -- director -- a big move like this happens.
My phone rings off the hook like it did last night -- what my friends have been asking us what does this mean for gold.
What I've been telling moment franciose.
This night indicates a tremendous amount of uncertainty and volatility -- need an insurance policy.
And you need a solid investment gold meets both secretary why isn't the GL DE TF a piece of paper basket of gold prices what why isn't that enough for me why -- need the physical thing now well up paper I'll -- applicant ETF is no different than the stock or bond its paper.
Where so we have gold at something tangible something that won't lose its value pressure Boston -- -- tell Coca blinded yup right.
So here are two gold coins this one the American gold buffalo one ounce claim yes 24 acute care pure gold.
I'll when I was many yet this very happy house one of the -- When announcement director in 2006 like pasta rice the first production of that now that's become the world leader the first 24 karat gold coins.
But he can't buy those from the -- directly.
But you can buy them from certain retailers and the one that I bought it just went from -- Morgan called.
This can be a fiscal cliff play but how much of this is also an Armageddon play if -- that a dirty bomb goes off -- New York City.
And the AT and shut down I'm -- need gold how much of it is that kind of fringe -- driver hobby did you know that they're certainly.
-- some of that but the fundamentals are this the fiscal cliff doesn't look like it's gonna be resolved and -- is resolved it only takes care of a small part of the deficit cut it.
In the deficits -- -- as far as I can see and as a whole bunch of other -- scary things that are gonna happen.
Over the next couple years of gold is something that you always on this one ounce piece.
When you have -- your hand.
That's 417100 dollars right there that baby is -- 17100 dollar -- yes that's right while the only thing is you can't believing he's divide -- in fact talent contest thanks for being with us have been like yeah we appreciate it -- --
