That has to be the stupidest line out there invented by some moron golfball manager. Do you eat paper money? Have you found a way to turn paper money into food?Paper has an intrinsic value of about 4 cents. Throughout history currencies have failed and become fuel for fire places or blowing in the streets. I have yet to see gold coins discarded as manure. Gold cannot be manufactured out of thin air, like paper money and therefore is a preffered liquid asset. Land is also an asset but it lacks portability. Gold has been money for over 5000 years and that hasn't changed. I hear the same drival here when gold was 1000$ and it will continue as the currency trainwreck finishes and when the dust settles, the only money left standing will be gold.
The only advantage that gold has over fiat currency is that it is, and most likely always will be in limited supply.
The world central banks are buying gold, what's Elmer Fudd the investor theory on that? I've been hearing a lot of the knucklehead economists talking about inflation for a decade. Eventually like the broken clock, will be correct. The chicken littles screaming that gold is in a bubble since it surpassed 500$. This is just noise from the peanut gallery of wannabe economic theorists. They don't understand money because the've been taught by the banksters in the schools they sponsor.
No lasting solution will ever come to the USGovt budget, where spending cuts are obstructed and tax hikes are obstructed, and war spending will continue into oblivion.
Gold has benefited from the lost credibility of the global monetary system, from the loss of unquestioned faith in the central bank franchise system. Gold represents the mirror image of the crumbling monetary system and its soured debt foundation, managed by dubious central bankers. The system will perpetuate its ruinous debasement of money itself, since the power structure will struggle to preserve itself. It is that simple. In no way will JPMorgan or Citigroup or Bank of America voluntarily commit to bankruptcy and debt restructure, accompanied by impaired asset liquidation. They are the insolvent pillars of the US financial syndicate, firmly in power, never to release that power unless from cold dead fingers. The Gold & Silver prices will continue to make new highs in the second half of the year. We should look forward with juicy anticipation to all the back-peddling by countless analysts who claimed the anti-USDollar trade was over.
Too bad the Elmer Fudd investor is just watching his purchasing power evaporate while he grapples with his economic theories that aren't panning out. Not able to confront his failed economic theory, watches from the peanut gallery.
QE to infinity!! as I said B4.
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