Bernanke plans; gold laughs

Gold blows through $1600 and passes 1000 British Pounds. Wasn't it only a few months ago that it passed 1000 Euros? And I can remember buying gold within the last few years under 1000 Zimbabwe Ben dollars. Silver is above $40.

In related news, the head of the world's largest hedge fund, Ray Dalio of Bridgewater, says we are heading for economic collapse due to money-printing by 2013.

How did you like that May-June pullback in silver? What a gift that was! In April, with silver around $50, I was kicking myself for not having bought more physical silver at lower prices. Well, I may be dumb but I ain't stupid, and I didn't pass up that chance a second time. I hope you took advantage of the mid-30's too.

Meanwhile, Ambrose Evans Pritchard is announcing the Return of the Gold Standard.

And finally, one of my favorite quotes on money:
Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.
- Norm Franz


Unknown said...

yes Gold also hit new records when priced in euros and British pounds,

Independent Accountant said...

Here I go again, "Got gold? Get more! Got bonds? You fool! Sell. Now!"



President who usurped Congressional spending authority to issue an executive order handing out hundreds of billions of dollars right before ...