Aug. 12, 2011, 8:18 a.m. EDT
By Al Lewis
NEW YORK (MarketWatch) — OK, so I was wrong about gold.
In my first column of the year, I boldly predicted gold (CNS:GC1Z) would top $1,700 an ounce in 2011. Now it’s passed $1,800.
“A rising gold price is God’s little messenger, reminding us the money we save for the future is just paper,” I wrote. Geez, I sounded like one of those crackpot spokesmen from the AM radio commercials: “Gold has never been worth zero!” And nobody seemed to take me seriously since I admitted that my forecast was based on questions posed to my Magic 8-Ball, rather than insights from a real market analyst or economist.
I’ve written columns bullish on gold since 2003, after gold hit an astonishing, nose-bleeding, long-time high of $385 an ounce.
Those were the good ol’ days when, if you said something nice about gold, readers would email to call you a “gold bug” or some kind of conspiracy theorist planning for the end of the United States of America, or something.
When gold rallied well over $500 an ounce in 2005, I interviewed some very smart people who were pretty sure gold was just another bubble.
“It’s had a nice run over the last 24 months,” Jeff Thredgold, an economist with Vectra Bank Colorado, told me in 2005. “But gold is easily the single-worst investment of the last 25 years.” LINK...
Showing posts with label Gold as money. Show all posts
Showing posts with label Gold as money. Show all posts
Saturday, August 13, 2011
Wednesday, August 10, 2011
...And the First Place Winner Gets GOLD!
Have you ever wondered why, in practically every measure of achievement in life, "First Place" is rewarded with gold, except the financial world?
WHY is gold as an investment discounted so much by mainstream financial media and Wall Street types? In some cases it's even laughed at by CNBC? Even the FED Chairman, Ben Bernanke recently stated that he doesn't think gold is money?
Maybe he forgot that one of the founders of the original FED, Paul Warburg in 1915 said, "The scope of our banking future will ultimately be limited by the amount of gold that we can muster as the foundation of our banking and credit structure."
Other famous quotes:
"You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold."
George Bernard Shaw
"Gold is money. Everything else is credit." J.P. Morgan
Our entire system of banking or "Fractional Reserve System" was originally founded on the back of gold by the Rothschild family in the 18th century. Could it be that these highly educated and sophisticated financial professionals of today really don't understand gold? Or, could it be that they do, and just want it all for themselves?
Poetic Confessions of a Banker
One has to ask the question; If you knew the secret of acquiring true wealth would you let everyone else in on it? Or keep it a secret and stay powerful and wealthy? Think about why many mainstream economists and bankers scoff at a "Gold Standard" money system. Think about who has control and power over government? Think about the powerful elite group of bankers and then watch the video below and ask yourself, if we were under a gold standard and this old miner struck it rich, WHO would gain power and WHO would lose power?
Gold prospector says, gold is worth 500 years of a man's labour. LINK
Let's not forget that every empire in history was built on gold and collapsed with a fiat paper currency. It is no doubt that gold is a powerful force and when it's in the hands of "We The People" then WE control the government not the bankers.
After all is said and done, the FIRST PLACE winner will have GOLD! BK
WHY is gold as an investment discounted so much by mainstream financial media and Wall Street types? In some cases it's even laughed at by CNBC? Even the FED Chairman, Ben Bernanke recently stated that he doesn't think gold is money?
Maybe he forgot that one of the founders of the original FED, Paul Warburg in 1915 said, "The scope of our banking future will ultimately be limited by the amount of gold that we can muster as the foundation of our banking and credit structure."
Other famous quotes:
"You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect for these gentlemen, I advise you, as long as the Capitalist system lasts, to vote for gold."
George Bernard Shaw
"Gold is money. Everything else is credit." J.P. Morgan
Our entire system of banking or "Fractional Reserve System" was originally founded on the back of gold by the Rothschild family in the 18th century. Could it be that these highly educated and sophisticated financial professionals of today really don't understand gold? Or, could it be that they do, and just want it all for themselves?
Poetic Confessions of a Banker
One has to ask the question; If you knew the secret of acquiring true wealth would you let everyone else in on it? Or keep it a secret and stay powerful and wealthy? Think about why many mainstream economists and bankers scoff at a "Gold Standard" money system. Think about who has control and power over government? Think about the powerful elite group of bankers and then watch the video below and ask yourself, if we were under a gold standard and this old miner struck it rich, WHO would gain power and WHO would lose power?
Gold prospector says, gold is worth 500 years of a man's labour. LINK
Let's not forget that every empire in history was built on gold and collapsed with a fiat paper currency. It is no doubt that gold is a powerful force and when it's in the hands of "We The People" then WE control the government not the bankers.
After all is said and done, the FIRST PLACE winner will have GOLD! BK
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