I waited until I had sobered up to re-read Agora Financial's 5-Minute Forecast,
where it reported that "Bill Clinton shocked us the other day when he came out
and suggested the financial crisis would never have happened if the dollar was
still tethered to gold."
Notice that they used the word "shocked", because that was when I realized that
I was too blotto to be likewise "shocked" at such an admission, but was
obviously too plastered to feel shock, much less have any sensation left in my
lips or even feel myself drooling into my lap.
And speaking of shocking, Jim Willie CB of GoldenJackass.com wrote an essay
titled "Shock Events & Gold Breakout" in a thorough, connected way, but
without screaming his guts out in anger and fear, perhaps because his lips are
also numb from
trying to drown his outrage and fear with alcoholic excess, although he doesn't
admit it, he does admit that "public disgust and anger is growing fast", a fact
to which he ascribes the notion that "The Tea Party movement has gained
acceptance and vigor at the grassroots level" which is certainly true enough
about me!
But this is not to talk about how "we, the People" referred to in the United
States Constitution, are in the Tea Party, or how "we, the People" referred to
in the constitution who are in the Tea Party have the smarts to say we have had
it Up To Here (UTH) with the Republican and the Democrat scumbags exceeding the
17 enumerated duties in the constitution, allowed a fiat currency even though
the constitution requires money to be gold, and how, as a result, We're
Freaking Doomed (WFD).
But, wait! Perhaps it IS about that, as Mr Willie says, "We are witnessing the
end convulsions of the fiat paper monetary system. The currencies are all
dying."
As a result, he says, "Gold will rise until given proper recognition, then it
will rise even more" a taste of which will be when gold reaches "US$2,000 in
price within the next two years", which comes out to a tidy 30% gain per year.
And it looks like other people have also come to the same conclusion, as a
gold-buying fever is reported to be sweeping the world. Agora Financial's
5-Minute Forecast reports that "The Austrian Mint has sold more Philharmonic
coins in the last two weeks than it did in the entire first quarter of 2010"
which seems entirely apropos for Austria, since the only true economic theory
is called the Austrian school of economics!
Coincidence? Maybe. Gold going up in price, in a dead-bang certainty, for years
and years to come? You betcha!
Perhaps Asia Times Online put it best when
summarizing one of my columns: " ... when the idiots at the European Central
Bank and the US Federal Reserve can press a button and produce a trillion
dollars from thin air, who needs math? All you need is gold, and lots of it."
And since nothing could be easier than buying gold, silver and oil when they
are so absurdly cheap in an era of continual, catastrophic, crazy creation of
more and more money, what can you say except, "Whee! This investing stuff is
easy!"?
Richard Daughty is general partner and COO for Smith Consultant Group,
serving the financial and medical communities, and the editor of The Mogambo
Guru economic newsletter - an avocational exercise to heap disrespect on those
who desperately deserve it.
(Republished with permission from
The Daily Reckoning. Copyright 2010, The Daily Reckoning.)
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