Posted on 07/30/2014 5:56:17 PM PDT by blam
07/30/2014
Ron Paul
I Still Believe In Gold - Ron PaulDr Ron Paul, the popular Presidential candidate and America and the world's most popular libertarian voice, told CNBC yesterday that he still believes in gold and that gold could go to infinity.
Former U.S. Representative Dr Ron Paul told CNBC's Jackie DeAngelis and the Futures Now Traders that the long-term case for gold remains firmly intact.Dr Ron Paul: Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it's good as long as we continues to do this , you know, it could go to infinity because when people just leave the dollar, who knows what But that won't happen if we finally wake up and do something. But if we can keep this together, if the money managers can keep it together and it doesn't collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it's up a hundred dollars for this year so
Jackie DeAngelis:
It's roughly I think up 8% year-to-date. It's not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we're seeing in terms of the geopolitical situation. A lot of conflict around the world -- you'd expect gold to be higher right now.
(snip)
(Excerpt) Read more at zerohedge.com ...
He is right. Sooner rather than later I think it will happen. There is no way you can put in circulation the amount of money Zero has without inflation. It also fits his destructive efforts to kill this country.
Absolutely true. It is insurance against the destruction of the dollar. Note what the dollar would buy in ‘35 vs. now, then compare it to the purchasing power of gold. I think there will be a window of time when gold will buy a lot more then it should. That window will close when the panic subsides.
Dusting off the Goldbug ping.
Thanks Blam.
I’ve never been attracted to clothing that expensive.
The rifle comparison tracks with my experience and preferences.
Which is the reason to have some gold in a portfolio. Gold is an investment that increases value as currency is devalued by inflation.
What can happen is the dollar can drop to zero,
In the 1920s a Model T cost $260 (7½ oz).
A top of the line Bugatti about 800. (the same as today)
The key observation is that the value for value exchange has held steady in spite of fiat currency variation.
But can you waltz on down to walmart and buy a loaf of bread with it when cash goes to hell? I’d watch that zombie reel over and over again spitting my popcorn all over the screen from uncontrolled laughter while I traded true utility goods! Gold is more fiat than paper ever will be. You can’t eat it, wear it, or stay warm with it literately. You could melt it down and make shitty ammunition out of it I suppose. I, and other elect people, will own people that invest in gold when the time comes.
Anything can happen in the future, but gold has proven its worth for thousands of years across hundreds of countries and civilizations.
Try buying a loaf of bread with your stocks, bonds, or securities.
OK.So where is the German gold that was shipped to this country for safe-keeping during the cold war?German officals have not been allowed to even see their gold.
As a ratio of US dollars, it could indeed approach infinity -
try dividing by 0.
They’ve been told - “It isn’t there, we sold it, you ain’t getting it. Do you really want to start a global collapse and an international incident by insisting on getting it back? Thought not.”
Gold isn’t a substitute for currency in a collapse situation. It isn’t intended to be, really.
It’s to preserve wealth until “the other side of the collapse” is reached.
Oh, my “quote” was not authoritative by any means,
but it was mysterious that they suddenly said “OK, we don’t need to see it” after a period of vehemently demanding it back.
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