printAre there any economic Austrians out there who treat gold as a topic for pontification, rather than as a real-life refuge from the irreparable debasement of the dollar?
Surely, if you’re Austrian in economics—namely, you follow the natural laws of economics—your personal financial portfolio, however meager, ought to have included gold well before the spot price settled at $1,869.00? (Which is now unaffordable to us ordinary Americans.)
If devotees of Austrian economics had a support group in every state, here is how I’d introduce myself: “ILANA MERCER, author of ‘Into the Cannibal’s Pot,’ and WND.COM’s longest-standing (possibly most predictive), exclusive, libertarian column. Gold-bug since $800.”
So many patriotic Americans continue to waste time and precious money on books and columns offered up by top-dog Republican writers. Invariably, the boosterism and jingoism of these well-to-do gasbags (girls and boys) leads them to talk up US Treasuries (in addition to other foreign policy fatuities) on FoxNews.
If your Republican heroes have jumped on the gold bandwagon, ask them: “When did you become a gold-bug?” Demand proof, because they tend to fib.
Gold is a girl’s best friend and bona fide (although credential are not worth much in the age of the idiot).
HERE’S Peter Schiff on the meaning of the flight to gold.
Apparently Silver is the poor man’s gold. Any thoughts?
[I don’t give financial advice. But I like silver too.]
In gold at 250
in silver at 4.50
in ammo at .223 – 30.06
in food 365
in seclusion soon
in God’s hands always
“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.”
–Norm Franz
Historically, the gold/silver price ratio has been about 20:1. Right now it’s in the 40s, which suggests silver will outperform. But buying silver is not for the faint of heart. It’s volatile – even more so than gold.
On the other hand, the fundamentals for precious metals are perfectly aligned. Governments and central banks seem intent on spending and printing with reckless abandon. Gold and silver are the ultimate safe haven against politicians and bankers.
One last thought: if you aren’t risk averse, give mining stocks a look. They are exceedingly undervalued given the metals pricing and pay dividends to boot. Pick the right ones, particularly the juniors, and you’ll be sitting pretty.
At this stage of the game I would be willing to take a long look recycling old license plates.
I bought cans of chili at 33cents/can.
Meanwhile, keep in mind that in 1980, gold was $800 and the Dow Industrials were $800 and 20 years later, gold was $ 250 and the Dow was 12000 – and I remember everyone swearing by gold. Sure it isn’t paper money but it is 90% ++ speculative…. Then I also remember “Dow 36000”.