HowardHe Loves Only Gold
That was the story of the James Bond villain, Goldfinger. Now with Bernanke "Helicopter Ben" continuing to drop money out of the sky to the big banks, what will this do to Gold? Already Gold has crossed the $705 mark. Is this the death of fiat money? Obviously, that would be insane, if we had a US Government willing to have a bankruptcy reorganization, and issue credit for necessary infrastructure projects. And that could be done internationally around a fixed exchange rate system. But, what if it is not done, and the boys hyperinflate? Like Mr. Simpson said, "Should've listened to LaRouche"
To show what others are thinking, here is a piece of a blog I get:
Looking Forward (Seeking Alpha) by Gary Dorsch (excerpt)
Is gold ready to sustain a powerful rally above $700 /oz, fueled by the exercise of the “Bernanke Put?” What is the major psychological hurdle that gold must overcome, before climbing to higher ground? What’s keeping gold down right now? The answers will be revealed in the Sept 7th edition of Global Money Trends, as well as extensive coverage on the global credit crunch, and its likely impact on global stock markets, the US$, crude oil, copper, and other commodities.
Until then, contemplate the following words of wisdom: “At some point, you have to choose between trusting the natural stability of Gold, and the honesty and intelligence of members of the government. With due respect for these gentlemen, I advise you, as long as the capitalist system lasts, to vote for Gold,” said George Bernard Shaw in 1928.
Should you place your faith in Federal Reserve notes? “Money is too important to be left to central bankers. You essentially have a group of unelected people who have enormous power to affect the economy. I’ve always been in favor of replacing the Fed with a laptop computer, to calculate the monetary base and expand it annually, through war, peace, feast and famine by a predictable 2%,” said Milton Friedman.
To show what others are thinking, here is a piece of a blog I get:
Looking Forward (Seeking Alpha) by Gary Dorsch (excerpt)
Is gold ready to sustain a powerful rally above $700 /oz, fueled by the exercise of the “Bernanke Put?” What is the major psychological hurdle that gold must overcome, before climbing to higher ground? What’s keeping gold down right now? The answers will be revealed in the Sept 7th edition of Global Money Trends, as well as extensive coverage on the global credit crunch, and its likely impact on global stock markets, the US$, crude oil, copper, and other commodities.
Until then, contemplate the following words of wisdom: “At some point, you have to choose between trusting the natural stability of Gold, and the honesty and intelligence of members of the government. With due respect for these gentlemen, I advise you, as long as the capitalist system lasts, to vote for Gold,” said George Bernard Shaw in 1928.
Should you place your faith in Federal Reserve notes? “Money is too important to be left to central bankers. You essentially have a group of unelected people who have enormous power to affect the economy. I’ve always been in favor of replacing the Fed with a laptop computer, to calculate the monetary base and expand it annually, through war, peace, feast and famine by a predictable 2%,” said Milton Friedman.
