Skip to comments.Spot gold surges more than 3 percent to over $1,030
Posted on 03/16/2008 8:05:57 PM PDT by shrinkermd
If things continue this way, St. Pats day will be remembered as the crash day. Hope for better but with the Asian markets down 2-5%, it is hard to imagine a good day tomorrow.
(Excerpt) Read more at kitco.com ...
...where was that photo taken?....it’s quite powerful.
Remember the Chinese Yuan is effectively pegged to the dollar - that cartoon could just as easily (and every bit as accurately), be Chinese running from the RMB to gold...
Korean Won as well.
Koreans running from the Won, across that footbridge?
In fact, perhaps it’s not so much that the dollar is having any sort of crisis - perhaps the Euro and Yen are being cleverly manipulated by Karl Rove into a massive hysteria-induced bubble designed to wreck European competitors... :)
Whenever someone says that precious metals are useless and lead is a better investment, I post that picture. If "brass and lead futures" are the only investment that counts, what will you do with those futures if this ever comes to pass? Rob the gas station?
I like to make people think.
>>...where was that photo taken?....its quite powerful.
At the intersections of PC and Photoshop.
They could trade such to people that would.
Gold is a hold! Good luck.
The beautiful thing about inflation is not only are your savings and standard of living destroyed but you get to move up to a higher tax bracket as well!
Hey, it’s only paper.
In the short run: Gold was much higher, in constant dollars, when it reached $800 in 1980. By a factor of—what?—about three?
In the long run: We have been on pure fiat money since 1971. The only way any country has ever transitioned from fiat money to real money is through a hyperinflation—i.e., the fiat paper money’s value as money eventually equals its value as a commodity. Thus, our paper money will eventually be affordable as fuel for the barbecue.
The only person in political office today who is speaking the truth about the nature of money is Ron Paul. Thus, no one who matters will sound any warnings, or do anything to avert the hyperinflation that is coming.
BTW: I got a silver dime in my change at the 7-Eleven a couple of days ago. It stuck out like a sore thumb, and sure enough, the date was 1959. Looks practically uncirculated. Weird.
And even more beautiful, the dems want to increase taxes to "help" the economy. Keeps all that nasty $ out of the public hands, you know.
I am long on rope.
As the Jimmy Carter character on Saturday Night Live said, “Inflation is your friend! With enough inflation for long enough, everyone will be a millionaire!”.
Probably kids getting into Uncle Charlie's coin collection.
Some action, yes, but not really a surge.
A surge will be when the price is changing two or three hundred dollars per day. (up or down!)
There are literally trillions of dollars and euros and whatever else you might have worldwide that are looking for a safe haven.
If gold ever gets seen as that safe haven, the price could go to the five digit range.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.