http://www.zerohedge.com/news/2014-...trategist-throws-all-over-gold-days-after-dut Not my opinion but thought you guys might want to read it anyway...
I think the idea that the price has exploded, even in contestant dollars doesn't really hold, according to him it's about 7 times what it was 100 years ago. coincidence that there are 7 times as many people on earth as there were then and probably more than 7 times the global gdp? Given how many millions of more people there are on earth each year and how many millions more who join the global middle class and become potential gold buyers I don't think it's so out of step. The gold has a value, it serves as an international agreed value store that can't be easily reproduced or replicated. There isn't a single major market on earth that doesn't have a history (often thousands of years old) of using gold as a wealth store. You can argue about what intrinsic actually means in practical terms but like it or not gold is convenient because everyone agrees on it and it doesn't belong to any one country. Of course we could all decide to ignore gold but we could all collectively decide to go off corn or stop flying, not likely and why would we?
He says if you can't sell gold - referring to the Swiss initiative to halt gold sales - then it's worth nothing. Makes no sense as everyone knows if people stop selling something it becomes more expensive. If no one is selling gold then it's priceless. To me he is just worried about the future of fiat and his company. My guess is we will be hearing a lot of this, people with a lot to lose who fear gold trying to bad mouth it. GFC, recovery, slower recovery, fear of another recession, deflation, central banks start hoarding gold, repatriating, BRICS, people start taking notice and realise things are changing. He is pumping out his own PR campaign we should too! Get blogging! Spread the word the war has started!!
