from Silver Vigilante:
It appears there is now a new psychological disorder developing in which paranoid and extreme individuals develop a worship of gold. Call it Gold Worship Disorder.
A recent piece in Financial Times by Izabella Kaminska lambasts gold and “goldbugs,” thus showing the mainstream press in Britain’s fear in the face of rising precious metals and commodity prices amid aggressive fiat devaluation by keystone western nations. In short, what the piece tries to get across is that the peasants musn’t seek alternatives to the intravenous drip of fiat. The piece begins:
Goldbugs don’t just believe in the fundamentals of gold. They worship at the altar of gold.
The goldbug view represents a market philosophy, a doctrine and a belief-system.
Whilst the first sentence serves as a low-blow to goldbugs with very little substance, the second line is true. The market philosophy and belief system of those who look to gold to preserve wealth is one that is against the command-and-control economics of fiat currency.