When discussing the financial crisis many people ask ‘how will this end?’ Our Best of the Web author, Jim Rickards, has the answer: The gold standard. Of course, this is unlikely to come by choice from Western governments.
The gold price may have taken a tumble, but Ian Gordon is watching for a recovery. As bullishness in gold reaches some of its lowest levels, Gordon says he believes that is indicative of a turn and he discusses where he has invested his money to ride the upswing.
As to the allegedly strong dollar, James Turk suggests comparing it to the price of gold rather than other fiat currencies for a better picture. And the world's newest currency—Bitcoin—has a lot in common with one of the oldest—gold.
U.S. dollar gold prices climbed back towards $1,556 per ounce Friday morning in London, the level that was until yesterday's falls the 2013 low, as stocks and commodities fell ahead of the release of monthly U.S. jobs data.
The “Mr Gold” of the 1970s and former adviser to the Hunt Brothers, Jim Sinclair is hopping mad over rumors that gold might be subject to confiscation above $3,000, something that happened in the US in the 1930s but would be totally impossible in the modern world.
While several heads of Federal Reserve Banks have called for more quantitative easing, Boston’s Fed Head Eric Rosengren has upped the ante and is calling for “open-ended” quantitative easing of a “substantial magnitude.” No joke.
Given the prevailing poor economic conditions and gold deflation, we are in what might be called a Kondratieff Winter, but to be more accurate, I prefer to call our present circumstances a “Fiat Currency Bubble.”
Compulsive hoarding is an affliction, an illness. It disables the sufferer and those around them, presenting a health hazard as stuff piles up and the home turns into a trash can. But just because you hoard money or gold bullion, doesn't mean you're sick or wrong.
Spot dealings opened with a bid-side quoted at $1,667 in gold and at $32.50 in silver. While there is still scope for attempts at taking out overhead resistance near $1,680 and $1,704 in gold (with a possible $1,730 end-target) the going has been anything but smooth.