Flight into Gold

[John McKenna]

[Michael Larson]

Everything is just fine.

Don't worry, Obama has a firm rein on the economy.

[Nick Gromicko]

There is no end to the spending. The new debt ceiling deal raises the debt to 25 thousand billion. To cover this debt, they have to print which means there is no end to the printing, which means there is no bottom to the dollar, which means there is no top to gold.

[measter]

Take the money and run.

When the stock market started to get flat in 2008, everyone rushed into oil and pushed it up to $125/bbl. Everyone was projecting $200/bbl. Then it crashed down to $40/bbl.

Oil was the last "tulip bulb". Gold is the next.

"Be fearful when others are greedy" Buffett isn't investing in gold now or even in the past.

[Nick Gromicko]

Exactly. He missed gold completely. Buffett hasn't made the right bet in years. The only person who knows less than Buffett is that idiot Dave Ramsey who has the ability to go on TV and give horrible financial advice for an entire straight hour.

Take the money and run.

Run where? Where do you put your money then? Paper is just that... paper, and it is losing purchasing power as I type this post. You can't actually sell gold for money, it is already money... all you can do is trade it for paper and then trade the paper for something else, but what?. You have to stop looking at everything in terms of U.S. dollars. U.S. dollars should only be traded into temporarily to buy bubble gum or a cup of coffee (because the local convenience store won't take a piece of silver as payment). Other than that. Look at everything in how much it costs in number of ounces of gold (not number of pieces of freshly printed paper with President's faces on them).