Gold Could Go To Infinity" - Ron Paul

Zero Hedge ^ | 7-30-2014 | Ron Paul

[Foundahardheadedwoman]

He is right. Sooner rather than later I think it will happen. There is no way you can put in circulation the amount of money Zero has without inflation. It also fits his destructive efforts to kill this country.

[Foundahardheadedwoman]

Absolutely true. It is insurance against the destruction of the dollar. Note what the dollar would buy in ‘35 vs. now, then compare it to the purchasing power of gold. I think there will be a window of time when gold will buy a lot more then it should. That window will close when the panic subsides.

[Jet Jaguar]

Dusting off the Goldbug ping.

Thanks Blam.

[PA Engineer]

I prefer silver. At 65 :1 the silver/gold ratio is more than a bit off and I think that will close a bit with silver going up and gold going down. Maybe

I agree with you. I have moved to 20% precious metals in savings (actual bullion and midnight gardening). My ratio is 100 to 1. The 100 (silver) is everyday expense and the 1 is wealth preservation. When they started "printing" it was time to get into tangibles.

[Myrddin]

I’ve never been attracted to clothing that expensive.

[Myrddin]

The rifle comparison tracks with my experience and preferences.

[bert]

Which is the reason to have some gold in a portfolio. Gold is an investment that increases value as currency is devalued by inflation.

[Oztrich Boy]

No it can't. There will always be a limit to what a given amount of gold can be exchanged for.

What can happen is the dollar can drop to zero,

[Oztrich Boy]

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.

In the 1920s a Model T cost $260 (7½ oz).

A top of the line Bugatti about 800. (the same as today)

[Myrddin]

The key observation is that the value for value exchange has held steady in spite of fiat currency variation.

[3boysdad]

But can you waltz on down to walmart and buy a loaf of bread with it when cash goes to hell? I’d watch that zombie reel over and over again spitting my popcorn all over the screen from uncontrolled laughter while I traded true utility goods! Gold is more fiat than paper ever will be. You can’t eat it, wear it, or stay warm with it literately. You could melt it down and make shitty ammunition out of it I suppose. I, and other elect people, will own people that invest in gold when the time comes.

[wrench]

Anything can happen in the future, but gold has proven its worth for thousands of years across hundreds of countries and civilizations.

Try buying a loaf of bread with your stocks, bonds, or securities.

[aNYCguy]

What a bizarre thing to say. For multiple reasons. You're a conspiracy theorist who can't even get right the supposed conspiracy.

[MaxMax]

What about space, can this Einstein tell us about how deep space is?
My gosh, I had no idea of this mans intelligence. Superior to God!

[Farmer Dean]

OK.So where is the German gold that was shipped to this country for safe-keeping during the cold war?German officals have not been allowed to even see their gold.

[MrB]

As a ratio of US dollars, it could indeed approach infinity -

try dividing by 0.

[MrB]

They’ve been told - “It isn’t there, we sold it, you ain’t getting it. Do you really want to start a global collapse and an international incident by insisting on getting it back? Thought not.”

[MrB]

Gold isn’t a substitute for currency in a collapse situation. It isn’t intended to be, really.

It’s to preserve wealth until “the other side of the collapse” is reached.

[Farmer Dean]

Really nice.And some “person”chose to call me a failed conspiracy nut when I mentioned it.Sold it?Hell,they stole it.

[MrB]

Oh, my “quote” was not authoritative by any means,

but it was mysterious that they suddenly said “OK, we don’t need to see it” after a period of vehemently demanding it back.