7.18.2011

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

2 comments:

Unknown said...

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

Independent Accountant said...

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

IA

Socialism is like a pot luck

 The latest product of the American public education system, I presume:         Sure, socialism is just like a pot luck. You would have e...