tag:blogger.com,1999:blog-1958152521039947777.post4756677256455676353..comments2024-02-24T20:34:44.520-05:00Comments on Queer New York: Printing More Dollars - Our Gift to the FutureTony Adamshttp://www.blogger.com/profile/10091330901996916966noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-1958152521039947777.post-49763833000255456132010-01-09T20:00:59.326-05:002010-01-09T20:00:59.326-05:00I read the newsletter linked in your post, and I w...I read the newsletter linked in your post, and I was hesitant to buy into it. I honestly don’t know enough about finance to counter the points made, but I always ask “who benefits?” when reading persuasive arguments. In this case, the author—who is a precious metals broker—benefits no matter what the market is doing, as long as transactions are being made. It is clear the tone in his article is meant to strike fear in the heart and open the checkbooks of his readers.<br /><br />With that in mind, I forwarded the link to a couple of guys I know who also study the market casually. Here is the gist of their responses: be wary of anyone who uses fear to persuade, especially if they stand to benefit. When it comes to investing, you must use moderation and careful study. They said that many of the arguments being used here have been offered every year for a very long time: “Old news.”<br /><br />Apparently the gold standard in the U.S. went south under the administrations of Johnson and Nixon, who offered the contents of Fort Knox to the international market. They set in place the momentum for what we are seeing now. Gold is now in the hands of some major corporations (where it used to drive commerce, a good thing) and national currency banks. The primary holders of gold in the world are China and Russia. China is in good shape and their gold will stay put as an investment. Russia is broke, and when their gold eventually hits the market, prices will tumble. That is the time—if so inclined—for the small investor like you and me to put up to 20% of our portfolio in gold.<br /><br />Inflation is increasing, but the debt quoted in Clark’s article is only potential debt. The bailout/stimulus granted by and to the U.S. government has not been spent. We must watch and guide our administration and congress in the use of these funds.Birdiehttps://www.blogger.com/profile/12852713057094279347noreply@blogger.com