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 Replies: 17 / Views: 2,366 |
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Pillar of the Community
United States
4008 Posts |
Quote:
In mid-July, Congressman Ron Paul (R-Texas), the chairman of the House Subcommittee on Monetary Policy, asked Bernanke whether he thought gold is money.
"No," Bernanke promptly responded, claiming that central banks held gold because of "tradition." I loved Peter Schiff's comment on this... he said in response to Bernanke's comment about tradition, "Yes, the tradition that gold IS money!".  |
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Bedrock of the Community
United States
10045 Posts |
Kudos to "The Maestro" for his part in where gold is today.  No doubt, he foresaw this consequence during his tenure.  |
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Pillar of the Community
United States
3670 Posts |
Wow, a former reserve boss speaking the truth, we must be in Bizzaro world eh. Nice article an read Junior! If Greenspan is in golds corner, that makes me think a climb will continue instead of pull back as does Mr. Greenspan apparently....
Edited by Silverhawk74
08/30/2011 11:33 pm
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Valued Member
United States
302 Posts |
Quote:
Kudos to "The Maestro" for his part in where gold is today. No doubt, he foresaw this consequence during his tenure. He foresaw it long before his tenure. Read this article ( http://www.wnd.com/?pageId=9016) and you might be of the opinion that he knew better and DELIBERATELY went ahead FULL WELL KNOWING the end result, basically the trashing of America. Quote:
"... Under the gold standard, a free banking system stands as the protector of an economy's stability and balanced growth," he (Greenspan) said. Edited by mmerlinn
08/31/2011 02:33 am
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Bedrock of the Community
Australia
21788 Posts |
Gold prices have a history of being highly valatile, but IMO, gold is good for a very long term investment and in future years, if you have enough of it, you can be in a very advantageous position to borrow against it, especially for real estate.
Real estate in the U.S. may be 'on the nose' just now, but let's face it: both businesses and families need somewhere to exist, and there is only a finite supply of land.
The REAL driver for increasing gold value in future decades will be the diminishing supply of crude oil, and increasing population numbers. Both will help to drive up the value of PM's faster than the inflation rate over the long term.
Just expect lots of price valatilty of PM's along the way, and brace yourself to ignore that volatility. Dollar cost average your purchases when you can, and buy small amounts with left over cash that you can afford.
This could be your new form of superannuation.
You could even ask a bullion trader to set up an account to purchase a small amount every month. How you keep the physical PM is up to you.
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Pillar of the Community
United States
830 Posts |
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The REAL driver for increasing gold value in future decades will be the diminishing supply of crude oil, and increasing population numbers. That's interesting. I guess I can see the population driver, but please explain the oil link.  |
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Pillar of the Community
Canada
3692 Posts |
(Oil) By that time most people will have woken up and start using solar energy out of a need to prolong their current lifestyles. Instinct and survival of the fittest. Right now wars are being fought over oil because people don't know what else to turn to; it's all they know.
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Bedrock of the Community
United States
10045 Posts |
Quote:
you might be of the opinion that he knew better and DELIBERATELY went ahead FULL WELL KNOWING the end result, basically the trashing of America. I might be.  Despite his assertions, I suspect AG knew that gutter-low Fed rate fueled the housing bubble / MBS fiasco--did anyone he knows profit from that? Naaah. Sequential bubble markets--America's "new economy".  This Currier & Ives cartoon from 1875 is still timely.  Edited by DVCollector
08/31/2011 1:48 pm
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Pillar of the Community
United States
4008 Posts |
Quote:
Wow, a former reserve boss speaking the truth, we must be in Bizzaro world eh. He'd better be careful. That COULD be habit forming as well as hazardous to his health.  |
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Bedrock of the Community
Australia
21788 Posts |
Go Thunder: How does the scarcity of oil link to the gold price?
Business and agriculture need oil for transport and chemicals, particularly agrichemicals. With an increasing population asking for more oil, when the supply is declining, will lead to economic instability. The analogy would be a flickering candle flame in a gentle breeze, just before it dies.
The guys on the stock market, get nervous and so look for PM's as an alternative investment, when they see a weak economy looming. A credit crunch is the harbinger of a weak economy.
"Peak Oil" will happen according to some analysts in 2012. That is when the supply of oil starts into decline because they can't discover new reserves fast enough to match the increasing demand any longer.
The guys on this Forum, I suspect, are actually watching all of this develop now, and hence their interest in PM's.
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Pillar of the Community
United States
648 Posts |
Quote:
Currier & Ives cartoon from 1875 is still timely. And the sign said "The words of the prophets are written on the subway walls. And tenement halls. And whispered in the sound ...  |
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Pillar of the Community
 United States
931 Posts |
Are you crazy Tokenmast? The Feds will come and get you for copyright laws printing lyrics like that!
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Pillar of the Community
United States
830 Posts |
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Go Thunder: How does the scarcity of oil link to the gold price? Thanks mate. gotcha  |
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Pillar of the Community
United States
3294 Posts |
Don't worry tokenmast. Rush is Canadian.
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Pillar of the Community
United States
648 Posts |
Quote:
Paul Simon   where thing are written  looking at walls silentlywell almost nice reading  and shock and awe  |
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Replies: 17 / Views: 2,366 |
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Posted 08/30/2011 8:48 pm
