What do Rising Gold Prices Mean?

http://www.house.gov/paul/\ ^ | 12/05/05 | Rep. Ron Paul

[Roberts]

Gold represents protection from the devaluation of fiat currencies, including our U.S. Dollar. Ron Paul is dead right.

[Eska]

It means quite a few more locals will be running dredges out 70 mile nx summer. For most, just a hobby or addiction; how you see it. When gold prices increase, it becomes another seasonal activity here in rural Alaska.

[martin_fierro]

Naah, not gonna post it.

Been done to death this month.

< |:)~

[nopardons]

Someone REALLY needs to tell Ron Paul that BLACK MONDAY was just that and by December ( heck, before that! ), the market had rebounded and the rise of gold prices, in December of '87, had less than nothing to do with that day.

Actually this entire thing by him, is junk.

[Gordongekko909]

Silly goldbugs, talking up the value of gold so that they can dump their shares higher.

[decal]

"Ron Paul is dead right."

And dead irrelevant.

[durasell]

This is kinda interesting. People look for gold as a hobby?

[nopardons]

No he isn't and he has less than no idea what he's talking about. His "facts" are spurious; oh bloody hell, they're garbage!

[nopardons]

Exactly so!

[de Buillion]

Gotta love Ron Paul; he was almost my congress-critter once, but they changed the districts around, and I'm not in his district now.

[Cringing Negativism Network]

IMHO, goldbugs have got it all wrong.

It's not the dollar, or "fiat currencies" - goldbugspeak for money.

There's nothing wrong. The sky isn't falling. The dollar isn't collapsing - in fact it's rising. What's happening is global economic growth.

What's driving gold is DEMAND. One billion Chinese, with money to spend. One billion Indians, with money to spend. Both cultures, have historically valued precious metals. Now they're showing up at the buying counter - with money in their pocket, ready to spend some of it.

Gold. Silver. Platinum.

Prices are rising - because of competition. Simple as that.

[Gordongekko909]

Lil Jon wants gold too.

[silentknight]

Hehe I am surprised the mods have not pulled this advertisement for gold.

Wonder how long till someone catches on ;)

[nopardons]

And so do many people. Actually, it is the purchase of jewelry, that is driving much of the uptick in the gold market now.

[Eska]

More a disease. I have friends that snowmachine their fuel & supplies back in 40-50 miles (trail becomes swamp in spring) and then spend summers in wet suit heavin boulders out of the creek; work their way down maybe 8 feet to hard pan; where the gold filters down to. They get an ounce or so in 3-4 hours with a 5 inch dredge. Hard work just the same; much easier ways to make a living.

That gold seems to grab onto to some people and its all they think about; yet they still only make 10-20 gran at it. One of the more successful local gold junkies here, spent his time pickin morels last summer.

[durasell]

Alaska is one of the few states I haven't visited, but always wanted to since reading Going to Extremes. One day.

Thanks for the answer. Maybe these guys have been unduly influenced by Robert Service....

Were you ever out in the Great Alone, when the moon was awful clear,
And the icy mountains hemmed you in with a silence you most could hear;
With only the howl of a timber wolf, and you camped there in the cold,
A half-dead thing in a stark, dead world, clean mad for the muck called gold;
While high overhead, green, yellow and red, the North Lights swept in bars? --
Then you've a hunch what the music meant. . . hunger and night and the stars.

[Roberts]

History is filled with examples of fiat currency collapses. Ron Paul has a better grasp on financial issues than most, and is far more "conservative" in the true sense of the word than anyone in the Congress.

[Roberts]

Just for kicks, read "The Coming Collapse of the Dollar and How to Profit from It" by James Turk and John Rubino. It provides a nice history lesson regarding the dangers of fiat currencies throughout world history and the reasons why governments prefer fiat currencies to gold and silver backed currencies (which relate primarily to their ability to print and spend more).

[durasell]

I'm putting all my money in coltran. It's the future!