A Right-Minded Gold Bug on Savers, Government & Au/Ag Fundamentals

It’s Keith Weiner again with some talk about money, from well outside the casino.

Milking the Savers

This is a snippet that will probably resonate with people who think about gold the way I do. But Keith goes way further, into credit, debt and the disenfranchisement of savers. You should read the article.

The reason to own gold—with that portion of your savings that you don’t need for liquidity—is not price speculation. If the same ounce fetches more of the Fed’s failing paper, then that is not a profit. That is not gold going up. That is said Fed paper going down.

And for all you gold price “enthusiasts” as one despicable gold bug pump artist puts it, Keith also goes into the supply/demand fundamentals of gold and silver, as he does each week. When they suck he presents the sucky fundamentals. When they are good, ditto. Right now they are good.

The fundamental price of gold, as calculated by a guy who half the perma-bull gold cult “community” cannot stand, is around $1500/oz vs. a current market price of $1340. Silver’s fundamental price is calculated at $17.10/oz vs. a market price of 16.52.

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