When people don't trust their government, gold prices rises.
Similarly, lack of trust in the stability of the financial system leads to increased "save haven" gold buying.
The abandonment of mark-to-market, which will undermine the credibility of the financial system and the governments which [fail to] regulate them, may therefore be bullish for gold in the years ahead.
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could be right. I'm skeptical the bandaids the corporate criminals of Wall Street and Obama's cabinet are putting on the rigged market system will be able to restore consumer confidence and create jobs. Obama's even trying to expand NAFTA, which caused millions of jobs to be lost in the US.
ReplyDeleteSome people have made compelling arguments for gold. However, the hype about gold has been reminding me of the hype about real estate just a few years back.
Can't eat, wear or live in gold. As Obama said, his administration is the only thing standing between the banking parasites and the pitchforks. His Administration is quickly destroying the hopes people had in it.
I'm a dreamer, but i'm confident an economic system that actually rewards people who are creative and productive, not those who are ruthless and corrupt, will create more value than gold.
Silvio Gesell has some really interesting concepts:
The Threat of a Good Example
newciv.org/nl/newslog.php/_v105/__show_article/_a000105-000002.htm
Silvio Gesell Bio
absoluteastronomy.com/topics/Silvio_Gesell
The Miracle of Worgl
reinventingmoney.com/documents/worgl.html
The Natural Economic Order by Silvio Gesell
appropriate-economics.org/ebooks/neo/neo2.htm
The Future of Money By Bernard A. Lietaer
books.google.com/books?id=a26rJQAACAAJ