The Phaserl


Priced for Collapse

by Gary North, Lew Rockwell:

Where is the gold price today? If you’re like many Americans, you have no idea whether it went up, down, or sideways. Fortunately, I know my readers to be more informed – you likely know that after falling from almost $1900, gold has been trapped around $1600 since early May. But you may still be curious why despite continued money-printing and abysmal US economic reports, gold hasn’t been able to hit new highs.

Here’s the truth: gold is currently priced for collapse. Many investors believe the yellow metal has topped out and are selling into every rally.

Nerves of Tin

Being a gold investor is tough business. The last thing any government or corrupt big bank wants is to have a bunch of people putting their savings into hard assets – and gold is one of the hardest of all. So we’re constantly up against tides of propaganda saying that gold has no value or is the refuge of doomsayers.

The effect of this is that even heavy gold investors are always waiting for the other shoe to drop. When house prices were rising, no one was worried that the market had peaked or prices were unsustainable. No one was asking whether all the thin-walled McMansions going up would actually be worth anything in a generation. But for gold, Wall Street has been shorting it all the way up!

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2 comments to Priced for Collapse

  • Frank Zak

    People don’t realize the real estate statistics they get are
    3 months behind the curve. Such as Case Schiller. It takes
    2 months to close an escrow and another month for it to
    be reported as a statistic.

    The residential market bottomed in Jan of 2012 for the USA.
    Vast amount of inflows are occuring. Near the same time
    gold began its fall.

    People are still going for the hard asset, but the asset
    class has shifted. Long term gold is a good buy. The fundamentals
    are all in place. But, a stock crash could initially
    hit gold as it did in 2008.

    People are waiting for a better price in gold to offset
    potential risk.

    A gold eagle in a coin store costs $1670. That’s alot of money.
    That’s why people like silver, even though the fundamentals
    may not come into place for another 5 years on supply demand.

    If you look at spot prices what do you see ?
    August Comex price. That is a futures market.
    So, paper controls even the physical market.

    A bogus market controls a real market. Only a financial coaspe can
    change this. If the US dollar goes up, this will be bad for gold
    and hold it back. With Spain against the ropes I would not bet
    on the Euro long term.

  • Frank Zak

    What actually is spot price ? August Comex futures.

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