Beck did this to me!!! I bought gold at $770.00 and silver at about $17 because of him. He really fooled the people like Keith Olby said, right?
Boy do I feel foolish now. I got mine around 300 bucks and 6 bucks, respectively.
I would, however, point out that when we hear that gold (or silver) is so much an ounce, we are being given a ratio — almost always the case with the media friends of paper money — precisely opposite of how it SHOULD be expressed.
At the moment, gold is NOT, for example, $1,400. an ounce, rather, the “dollar” has been reduced to a value of 1/1,400th of an ounce of gold. If the “dollar” is inflated to 1/6,300th of an ounce of gold, folks would get a more meaningful picture of what the politicians and the Fed have done to the currency.
Another interesting stat is that before the vote-buying politicians and masters of the universe at the Fed pulled us off a precious metals standard back in the day, the dollar was equal to 1/35th of an ounce of gold. And it has been calculated that the “dollar” of today is equivalent to less than 1 cent when measured against the dollar of 1913 or so BEFORE the Fed and the beloved INCOME TAX.
Sadly, it will ever be thus and it seems we must relearn those painful lessons every few generations.
In case some of you hadn’t noticed, class is now in session.