Skip to comments.Gold Has Longest Streak of Annual Gains Since 1920
Posted on 01/01/2013 10:49:35 AM PST by Kaslin
Bloomberg reports Gold Extends Longest Streak Since 1920 on Central-Bank Stimulus.
(Excerpt) Read more at finance.townhall.com ...
Another Rule of Thumb:The same theory is at work when the price is falling.
Final Rule of Thumb: Getting rich is easy if you learn how to predict when there will be a change of direction.
“....and as U.S. leaders near a budget deal.”
Budget deal? What budget? All I see is a tax-increase “deal”. We have not seen any “budgeting” since Obama took office.
This is getting worse by the minute.
I like the rules of thumb; one thing I don;t like in how the media reports anything going up in price is how more often than not it is an indication of the US dollar FALLING. When the dollar falls, everything (gold, gasoline, stocks, groceries) goes up in price. This is exactly what has happened since Obama’s election in 2008 (and subsequent spending spree), and it has been downplayed/concealed by the media.
Everyone is concerned about smaller paychecks due to higher taxes; they’ve already been getting smaller paychecks due to higher costs of everything.
Gold isn’t rising. The dollar is falling.
Is it possible gold was headed for a bubble but recent events are driving it from “high due to bubble” to “high due to solid reasoning”?
A doubling in price over 4 years... how is that anything but a sign of bad things?
Where are all the, “You can’t eat gold” freepers?
Re: “You can’t eat gold.”
FDR used an Executive Order - no Congressional vote - to confiscate privately held gold in 1933.
He assigned a completely arbitrary price to gold and compelled Americans to exchange their gold for USA paper currency.
The good news?
It’s easier to chew the paper currency.
Probably hung over, just like the “If gold is so valuable why are they selling it” Freepers
Lost my original reply thanx to Bill Gates's Internet Explorer suddenly folding up -- "errors" you see. Thanx, Bill.
Monetary measures (M1, etc.) were invented to help get understanding of price inflation. Now the people who understand the aggregates, insist that the aggregates ARE the definition of inflation and deflation, and insist with their neck tendons standing out that price inflation has nothing to do with monetary aggregates' behavior.
They've been arguing about whether we are experiencing inflation or deflation for six years now. Meanwhile, our fortunes hang in the balance.
Thanx, guys, for being so clear on the subject. This includes you, too, Shedlock! Prices are higher -- where are your falling prices to go with your academically-defined, Austrian-school deflation, Mish?
“We have not seen any ‘Budgeting’ since Obama took office.”
And that’s the way the Obama supporters like it. (send them that money, money, money)