Use access key #2 to skip to page content.

Ron Paul: Gold Standard 1/30/09 Fox Business

Recs

14

February 02, 2009 – Comments (5) | RELATED TICKERS: GOLD , GLD

The media is pumping gold hard lately. It is ominous and very bearish sign to me.

Fools should print this and save a copy. It is what you email to those, who do not want to be on a Gold standard.

Like Aniken Skywalker, Greenspan was always a part of the Darkside. Here is his post before joining:

http://www.ritholtz.com/blog/2008/11/gold-and-economic-freedom-by-alan-greenspan/ 

Gold and Economic Freedom by Alan Greenspan 1966

This article originally appeared in a newsletter: The Objectivist published in 1966 and was reprinted in Ayn Rand’s Capitalism: The Unknown Ideal

5 Comments – Post Your Own

#1) On February 02, 2009 at 5:40 PM, XMFSinchiruna (27.70) wrote:

Abit.. thanks for another great Ron Paul video. Could you elaborate on your comment about the media's coverage of gold being bearish? Do you mean bearish for the economy or bearish for gold? Just wondering where you stand on that.

By the way, did you see my shout-out to you in my article on DRYS? Congrats for a terrific early call on DRYS!

 

Report this comment
#2) On February 02, 2009 at 6:37 PM, Tastylunch (29.22) wrote:

 did you see this gold ad in the Superbowl Abitare?

 

Report this comment
#3) On February 02, 2009 at 7:15 PM, abitare (31.95) wrote:

ALCON,

Thank you for the replies. 

TMFSinchiruna,

We are in deflation. In deflation all asset values get taken down even gold. Gold has held up remarkably well...

I like gold. I own and buy physical gold as insurance. I do not really consider it a get rich investment. I hope to die with my gold and never sell it. If I have to sell it, the "sh-t has hit the fan" ang there has been a break down in the division of labor.

All this promotion of gold on CNBC is ominous, IMO. Anything heavily promoted is usually a "sell" in my book. But they might be able to pumpup gold to $2k or more. It depends on how scared they try and make people.

Tastylunch,

Great find, I had not seen that. That is very rich.

 

Report this comment
#4) On February 02, 2009 at 7:26 PM, abitare (31.95) wrote:

TMFSinchiruna,

Very good write up and report. Thank you for the "shout out".

On Gold, I will quote Citibank's Chuck Prince "when the musics playing you have to dance"

The music is definately playing for gold. When the music stops, you had better be the first out. 

CNBC could be pumping just to get people back into the market or maybe to help corperate clients unload on the masses. 

Report this comment
#5) On February 02, 2009 at 7:37 PM, XMFSinchiruna (27.70) wrote:

abitare

Yeah, short-term, I think gold could either re-test $800 or bounce of $880 and head straight to $1,000. Either scenario is possible, and anyone claiming to know which will occur is just guessing IMO. Longer term, though, I stand by my $2,000 target, and will stand pat through any correction.

Report this comment

Featured Broker Partners


Advertisement