Gold and Silver Fill Trust Vacuum
Posted by Investment Rarities on September 19th 2011 in Federal Reserve, General Economy, Gold, JPMorgan, Monetary Policy, Short Sellers, Silver, U.S. Congress, Wall Street | Be the first to comment!
Echoing a report released this summer by the Austrian-based Erste Group Bank, “In Gold We Trust,” Jim Grant, in an interview with Barron’s, describes gold as “simply the reciprocal of the world’s faith in the institution of managed currencies. It is one divided by T, where T stands for trust. And trust is a shrinking number and will continue to shrink. Therefore, I am still bullish on gold.”
Or, as a follow-up post at Jesse’s Café Américain puts it, “the price of gold will run higher in response to the opacity, crony capitalism, insider dealing, abuses of power, and arbitrary valuations in the financial system and the overall system of governance. Gold, and to a growing extent silver, are the safe havens for the world…. As a recognition of what is happening penetrates more deeply into the public consciousness, the spike in the price of precious metals may be much more impressive.”
Related Links:
IBT: Gold falls as safe-haven investors opt for dollars
Trader Dan: Gold chart and comments
Coin News: Gold declines 2%, silver tumbles 4.1%
Bloomberg: Gold weaker ahead of Fed meeting
MSN Money: Time for QE3 to set sail
KWN: Jim Rickards – Secrets of QE, gold & currency wars
Telegraph: $2,000 an ounce for gold is now within sight
Bloomberg: Hedge fund heavyweight sees gold at $2,200
Casey Research: How far can gold and silver climb?
KWN: Michael Pento – JP Morgan silver manipulation & US debt vrisis
Daily Wealth: A popular disaster scenario for gold… and why I’m not worried
Financial Times: European central banks return as gold buyers
Bloomberg: Chavez decrees nationalization of gold industry amid surging bullion price
Wall St. Sector Selector: Paper vs. precious metals: Which will win?
Peter Brimelow: Gold bugs blame central banks, but say they’ll fail
Gold & Silver Blog: Rep. Ron Paul holds hearing on H.R. 1098: Free Competition in Currency Act of 2011
CNN: Ron Paul wins California straw poll
