Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (76867)	7/25/2011 5:13:28 PM
From: carranza2	Read Replies (1) \| Respond to of 218670

Locus from Mars had the best response to Krugman's inanity I have thus far read in the NYT: 52. Locus Mars July 20th, 2011 12:07 pm Apparently neither Kash nor Kruggy have enough sense to look at a chart for the price of gold before they start foaming at the mouth with their absurd conspiracy theories. http://www.kitco.com/charts/popup/au3650nyb_.html Since Glenn Beck went on the air in Jan '09 gold has risen about 80%. But between 2001 and 2009 gold rose by about 327%. Wow, I guess that shadowy advertising campaign must have really been gunning for the Bush administration! James Grant, perhaps America's most eloquent goldbug, describes the price of gold as being inversely correlated to people's faith in the monetary authorities. Gold soared during the Seventies after Richard We-Are-All-Keynesians-Now Nixon severed the last tie between the dollar and gold. Gold dropped during the Eighties after Paul Volcker demonstrated that a Fed Chairman could actually act responsibly and inflict short term pain in return for a better long term. And gold started its last decade long rise when it became clear that Alan Greenspan's print-now, print-tomorrow, print-forever policy would lead to ever greater crises. Look again at how gold's rise accelerated in July of 07 just as the storm clouds of the last panic were gathering. That was a full eighteen months before Beck took to the air. Gold has been rising because Keynesian knuckleheads have been cheering irresponsible monetary policy for years. The simple fact of the matter is that the goldbugs are much smarter than Paul Krugman and they saw our present troubles coming from a long way off.