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Gold Could Go To Infinity" - Ron Paul
Zero Hedge ^ | 7-30-2014 | Ron Paul

Posted on 07/30/2014 5:56:17 PM PDT by blam

07/30/2014
Ron Paul

“I Still Believe In Gold” - Ron PaulDr Ron Paul, the popular Presidential candidate and America and the world's most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”

Former U.S. Representative Dr Ron Paul told CNBC's Jackie DeAngelis and the Futures Now Traders that the long-term case for gold remains firmly intact.Dr Ron Paul: “Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it's good as long as we continues to do this , you know, it could go to infinity because when people just leave the dollar, who knows what …”“But that won't happen if we finally wake up and do something. But if we can keep this together, if the money managers can keep it together and it doesn't collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it's up a hundred dollars for this year so…”

Jackie DeAngelis:

“It's roughly I think up 8% year-to-date. It's not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we're seeing in terms of the geopolitical situation. A lot of conflict around the world -- you'd expect gold to be higher right now.”

(snip)

(Excerpt) Read more at zerohedge.com ...


TOPICS: News/Current Events
KEYWORDS: gold; inflationeconomy; investing
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1 posted on 07/30/2014 5:56:17 PM PDT by blam
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To: blam

Gold always sounds good. Metals usually do.

It would be interesting to know over time how many have actually made money on metals investments, and how many lost a fortune on them.


2 posted on 07/30/2014 5:57:12 PM PDT by DoughtyOne (Think how stupid the average person is, and then realize half of the populace is worse than that.)
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To: blam

Ever notice: It’s always time to buy gold — never time to sell?


3 posted on 07/30/2014 5:57:39 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: blam

Or not.


4 posted on 07/30/2014 5:58:22 PM PDT by Paladin2
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To: blam
No, the price of gold cannot go to infinity. There will always be someone willing to sell for less.

And, it may get cheaper before it gets more expensive. Or, the reverse.

5 posted on 07/30/2014 5:58:38 PM PDT by Tau Food (Never give a sword to a man who can't dance.)
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To: blam

The Germans could have made a killing in the gold market,had we not lost their hundreds of tons oF bullion.


6 posted on 07/30/2014 5:59:10 PM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: blam

And lead can take your gold.

Really though. Aside from small amounts I don’t deal with gold. Being that I own a machine shop I have very valuable skills to trade and racks filled with aluminum and carbide cutters. As long as I can trade some diesel fuel to run my generator I am in pretty good shape. If I can’t trade something for diesel, or there’s no diesel, then there’s a lot more we all have to worry about than gold.


7 posted on 07/30/2014 5:59:12 PM PDT by Organic Panic
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To: blam
Paul: "Gold Could Go To Infinity"

Why stop there? How about 'beyond'?


8 posted on 07/30/2014 6:04:22 PM PDT by C210N (When people fear government there is tyranny; when government fears people there is liberty)
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To: DoughtyOne

Gold is a storage of wealth not an investment.

Over the long term. an ounce of gold today pretty much buys what an ounce of gold did 50 years ago, 100 years ago, 1,000 years ago, etc.


9 posted on 07/30/2014 6:06:22 PM PDT by wrench
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10 posted on 07/30/2014 6:08:14 PM PDT by Theoria (I should never have surrendered. I should have fought until I was the last man alive)
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To: blam

Gold can and will go up, probably to the tune of 2,700-3,000 dollars at some future point. All it takes is some foreign policy moment where everything changes, if only for a day.


11 posted on 07/30/2014 6:10:24 PM PDT by Jumper
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To: wrench

I agree with that. I’m not sure people understand that though, and they do use it for investment purposes.


12 posted on 07/30/2014 6:13:10 PM PDT by DoughtyOne (Think how stupid the average person is, and then realize half of the populace is worse than that.)
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To: blam

13 posted on 07/30/2014 6:13:46 PM PDT by ETL 2
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To: wrench
Over the long term. an ounce of gold today pretty much buys what an ounce of gold did 50 years ago, 100 years ago, 1,000 years ago, etc.

That would be the very definition of a good currency; as opposed to fiat currencies such as the dollar which drops half its value about every 10 years.

14 posted on 07/30/2014 6:21:03 PM PDT by Flick Lives ("I can't believe it's not Fascism!")
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To: DoughtyOne

It is a better investment than a savings account. At least it stays up with inflation, bank accounts rarely even pay half the inflation rate and you have to pay income tax annually on the interest your money “earns”.

As a way to spread risk in volatile financial events, is isn’t bad at all.


15 posted on 07/30/2014 6:22:11 PM PDT by wrench
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To: Jet Jaguar

Ping.


16 posted on 07/30/2014 6:22:41 PM PDT by blam (Jeff Sessions For President)
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To: blam

infinity is not a number

will the price keep up with inflation

can sell it after an economic collapse? Who will buy it?


17 posted on 07/30/2014 6:24:30 PM PDT by GeronL (Vote for Conservatives not for Republicans)
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To: blam

Gold will not go to infinity.

It also will not go where Argentina bonds went today.


18 posted on 07/30/2014 6:24:37 PM PDT by zeestephen
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To: Flick Lives

“That would be the very definition of a good currency; as opposed to fiat currencies such as the dollar which drops half its value about every 10 years. “

But politicians can not manipulate hard currency like they can fiat currencies.

They like spending dollars and repaying with dimes.


19 posted on 07/30/2014 6:26:10 PM PDT by wrench
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To: wrench
15 oz of gold buys a new car for a family. That has been a rough valuation since 1976. Not so when the government held the value of gold at $35/oz. Once it floated to $120/oz, it roughly tracked a new car at 15 oz.
20 posted on 07/30/2014 6:27:29 PM PDT by Myrddin
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