Gold Could Go To Infinity" - Ron Paul

Zero Hedge ^ | 7-30-2014 | Ron Paul

[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)

[Farmer Dean]

Pretty obvious that the Germans got some kind of wave-off.I don’t think that the gold was sold,considering the types in power in this country,I’d say it was stolen.

[MrB]

Selling someone else’s property is stealing it.

[Tau Food]

Yes, that's all true in theory, but a "currency" without value is not really a "currency" because it cannot be exchanged for anything of value. Long before a currency becomes worthless, other currencies take its place. So, if the dollar loses too much value relative to other currencies and asset classes, no one will be measuring the value of gold in terms of dollars.

Beyond that, it is not necessarily safe for an investor to feel comfortable investing in gold merely because the value of gold (in dollars) is increasing. There have been periods (even recently) when both the dollar and gold have lost value in relation to other asset classes. One needs to keep an eye on all asset classes because it won't do a gold investor much good that his gold holdings are rising in dollar value if both gold and the dollar are underperforming relative to everything else. Gold and the dollar are just two of the many, many classes of assets.

[McGruff]

To Infinity...and Beyond

That’s the first thing I thought of, we watched alot of Buzz Lightyear when my son was little.

I’m guessing ole Ron wasn’t a math major.

[aNYCguy]

Sigh. The gold is in the Fed vaults. What, you want a photo of it? Bundesbank is repatriating about half of their U.S.-held gold over seven years, and shipments have begun.

http://www.ibtimes.com/german-gold-makes-it-way-back-home-fed-slowly-1563651

Don't believe everything you read on conspiracy theorist websites.