Joe, What you say is partially true. FDR did stop the US from setting a below-market price for gold and that helped the price and the profits, thus the stock prices, to improve. However, when you say citizens could not own gold, you are looking only at the US. Other nationalities saw increased ownership among individuals.
Also, when it comes right down to it, gold went up after the crash and FDR's election. And it went up when Tricky Dick floated the price, and, again, at the same time as other stocks went into the tank. So, the two best examples of stocks collapsing in the 20th century, a great deflation and a great inflation, showed gold and gold stocks going up. Are their scenarios where stocks could crash and gold also crash? Sure. But my guess is that they don't coincide with gold at its current low price.
BTW, platinum is still better. <G>
Good luck,
MB |
