Forty-five years ago, in 1971, I traveled to London on behalf of the institutional research and trading firm where I was then associated. My firm was one of the primary players in the South African gold shares market. My task was to write a position paper for our firm that would lead to a regularly released research report series on the gold shares market. I did indeed start writing on the international gold market and not long afterword began Young’s World Money Forecast, a 50-page monthly analysis of the international economic and monetary system, world currencies, and the precious metals markets. I remain as active as ever in these markets, and today’s extraordinary volatility is but an indication of the problems that lie down the road due to extraordinary mismanagement by the Obama administration and the Fed.
Few Americans understand the mess America is in today better than Ron Paul and Rand Paul. And it is Rand who voters, with a breathtaking display of ignorance, have tossed on to the presidential scrap heap in favor of two frightening Marxist-influenced political dinosaurs and a pack of competitors largely comprising neocon-centric pretenders. A unwelcome outcome lies ahead for America unless one of the neocon-flavored crowd breaks away from the pack and gives voters reason to think that he understands the crossroads that America is at today and has a specific menu crafted to right the ship of state before it is too late. As things stand today, my level of confidence is low.
If Americans need any reason to not understand this warning, listen to any of the clips from the appalling Democratic debate. These two individuals are running for president of the United States? Any American not scared before last night should be scared now.
Given the above, can there be any reason to not understand why the price of gold is soaring to the point that Barrick Gold Corp, the world’s largest gold miner, is up 63% in just six weeks? The Wall Street Journal as often as not gets the gold story as wrong as it gets foreign policy. Here the Journal does a pretty good job of bringing Americans up to date on what negative interest rates might mean for gold. This theme is but a pee hole in a snow bank in regards to the jam in which the Obama administration and the Fed have put America in over the last eight years. When will Americans wake up?
Some video from Ron Paul on the benefits of buying gold:
Latest posts by Richard C. Young (see all)
- America Should Not Back the Saudi Crown Prince - September 20, 2019
- The Road to Serfdom: Solutions for Today’s Problems - September 20, 2019
- How to Build 37% of Your Wealth in Just Ten Days - September 20, 2019