Originally Posted by cat man do
The fact still remains that you have cherry picked a point in time when gold has done well and then claim it to be the be all and end all
And have conveniently forgotten about the 1/4 of a century before that when it did nothing
and have forgotten about how it was actually illegal to hoard gold in the past
Executive Order 6102 - Wikipedia, the free encyclopedia
What's to say it wont be again?
Investments change with the ever changing world. As I said before.... during stable times...Gold prices are stable too....Do you think we are in stable times now? Is the economic world getting better or worse?
Holding Gold was prohibited from 1933 to 1974 except for 5 ounces per person OR coins with a collector value....this was a time when we were on a gold standard with other countries (1933-1971) We are no longer backing our currency with Gold or anything else of value so it would be very hard to confiscate gold without a return to the gold standard.....even then the government
would have a very hard time confiscating older coins minted prior to 1933....they are all collectible now....and many are available at the same prices as bullion gold (example:fractional pre33 European gold coins)
Snippets from yesterdays interview with Jim Rodgers
Jim Rogers on the Dangers of Price Inflation, the Promise of Commodities and America's Continued Decline
Where is gold headed? Silver?
Everything I have told the world about gold and silver is going to continue to happen. Eventually gold will be a couple of thousand dollars an ounce, and probably much higher, as currencies become more debased, who knows how high. Silver will definitely reach new highs. As I have said, the US dollar is in serious trouble, and will be debased a great deal in the future, and eventually will be problematical itself. So gold and silver will be measured by the US dollar but I hope there will still be some sound currencies no matter what happens.
You told us last time that the West was not handling the economic crisis (which began in 2008) very well. Are you more or less optimistic now?
The situation continues to be bleak, in the US especially. The politicians continue to dole out staggering amounts of money and the people who receive that money think they're better off. But the overall situation is worse. America's debt continues to skyrocket; the money train continues at a high rate, leading to more inflation and higher prices, and to eventually to more currency turmoil and eventually higher interest rates.
Somebody is going to have to take some losses, just as in Europe
. The idea that the solution for too much debt and consumption
is more debt and more consumption
is ludicrous. It's embarrassing. Maybe the Europeans are starting to understand it and maybe they are going to do something about it, or be forced to do something about it, which is more likely.
they are saying, they are not going to cut spending, well eventually somebody is going to have to face reality. In China
, they realize they have an inflation problem and they are trying to do something about it; let's hope they do. They still have a blocked currency, which in my view, is part of the problem. But to their credit, they do continue to open the currency more and more, every month, every quarter, and they know they have to.
There are serious problems developing in India
with their central bank and numerous other countries. Thailand
, South Korea
are all victims of the US central bank and the UK central bank easy-money policies. Staggering amounts of money are flooding into these countries, and there is no way in their power that they can stop this inflation or the subsequent price inflation. The situation continues to get worse for them
Bernanke and the Fed – and other central banks – have apparently issued into the world's economy something like US$20 to US$50 TRILLION in loans, pump-priming etc. What happens when the velocity of money increases and all that money starts to circulate?
It's already happening; prices are going higher. Now the blame game
starts and the government
will blame it on draught or crop failure or whatever. Politicians will do and say anything to avoid explaining that inflation is a monetary problem. Their reactions are always the same and it's always astonishing to me. As President Ford said, "there is no problem" – and even if there is, it's not his problem. Well there are always people who are in denial; then the problem gets worse not better.
Snippet from zerohedge
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