Keynesians and Chicagoans do not make up the history of capitalism.
capitalism is not the problem as this article seems to suggest. The problem is FRAUD...Legalized or not. And that Fraud extends to Bankers, Wall street, and right up into the hands of Government.
Add to the mix Obama administration shutting down both coal and oil production in the US. Devalued dollar, reduced domestic energy output....Cost of imports (oil) will go up, after election.
Gold would only be good if you are betting that the dollar will collapse entirely or the government recalls all currency and reissues money that has an expiration date to force it back into the banking system.
Not buying this scenario.
Why not?
According to this article....
http://www.freerepublic.com/focus/f-bloggers/2935479/posts
massive reserves of oil & gas have been found off the coast of Greece; its part of the same giant field off the coast of Israel.
The result? The Germans have changed their tune about keeping the Greeks solvent and keeping them in the Euro.
Now scale up what’s happened in Greece 100 fold and you get what’s happened in the USA. That is, because of fracking USA gas and oil reserves have gone up 100 fold.
What does that mean?
That means that the USA becomes energy independent by 2020. That means that the dollar is backed by much larger reserves of oil. Oil is like Gold.
All oil exporting countries have hard currencies.
If Romney gets elected in November—then gold is today at its peak.
I’m going to go get an $8.00 burger and fries, that being said it will be worth $8.00 to me tonight... tomorrow morning it will be worth considerably less
TT
Really? Gold is the answer? Ulitmately against what, a weaker world currency?
No my friend, gold ain’t going to buy you food and water in a national crisis....its worthless.
Good secure shelter, a healthy stockpile of food, clothing, medical, toiletries, fuel, guns and ammo is how you will survive.
stockpiling gold is a joke, will get your broke, and will get you dead fast.
The author wouldn’t recognize capitalism if it bit him in the ass.
Gold is an exit in an inflationary spiral.
The very mixed signals we've been seeing since 2008 are the result of massive stimulus applied unevenly. Where the stimulus has reached, prices have increased. Where it has not, deflation reigns.
Stimulus has reached sources of presumed return on investment. Things that have a reliable demand. Even so, there have been spikes and crashes even there. Uncertainty makes for scared money and volatility. Speculation does, too.
People on the whole are deleveraging, meaning they're shedding debt. Some by choice, some out of necessity. Virtually interest free mortgages have barely nudged real estate in most of the country. Prices in free fall seem to have slowed if not abated, with pockets of slight appreciation in areas of traditionally tight supply.
I wouldn't turn my nose up at precious metals as a hedge against disastrous inflation, but I wouldn't bet the farm on it either.
ping