Texas_Guy

Own Gold? Time to Fold

Alan,

You must work for one of the Big 3 investment banks. GLD, i.e. "paper gold" is a fools bet. One of the fund's designer's was Robert Rubin, who is as crooked as Lombard Street in San Francisco. The other issue is that there is little to no audit of the "physical" metal that they say you hold. Had you held gold over stocks since 2000, you would have had a net positive return on your investment. Finally, gold has been a store of value for over 5,000 years. NO fiat currency has every survived without collapse. And by the way, since King Nebuchanezzer's time (650 BC, I think), 1 oz of gold has been worth about 300 loaves of bread. Remind me how much Enron, Worldcomm, CountryWide, etc. stock is worth now??

Our Coming Depression

www.financialsense.com...

Wind the clock back to 1995, and you will see the seeds of this debacle were planted by then Sec. Treasury, Robert Rubin.

Bill Gross: Brilliant, As Usual

Could it be possible that the PTB are using former Reagan budget director David Stockman's "Starving the Beast," theory to ensure they kill off as much of the entitlements as they can, by excessive govt. spending and the near bankruptcy of the country? They knew full well years ago they would never be able to pay the baby boomer generation all that was promised.

An Open Letter to All Airlines - Quit Whining and Hedge Your Fuel Costs

In terms of gold and silver, oil is nearly the same price as 1964. The problem is that once President Nixon took us off the gold standard, and the currency was only backed by a weak promise to pay, the value of the US Dollar has depreciated significantly. Since the US $ is the world's reserve currency, and oil is receipted in $$, the cost is simply a reflection of the loss of purchasing power of the US $. Thank you local politician along with the Federal Reserve for that the next time you see them.