Gold -- There's still loads of scepticism about the rising price of gold and the bull market in gold. It's been so long since the US public (since 1971) realized the gold was real, Constitutional money, that they don't know what to make of the gold action. They think gold near $1200 an ounce is expensive and they'd rather have dollar bills. I've coined the phrase, "dollar-bugs" for these ignorant Americans. I guess they'll have to get educated the hard way, which means holding on to their fading Federal Reserve Notes, no matter what. As far as I'm concerned, it's an amazing example of mass brain washing. "Hey, I'd rather have junk paper turned out by the Fed than the real thing -- gold." Pathetic. And the happy thought is that you can (legally) still swap your junk fiat paper for gold. the chart below shows the Dow in term of gold going back to the year 1999, Take your choice, you can call it the "stealth bear market" in the Dow," or the "stealth bull market" in gold. |
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