Saturday, October 1st, 2016 MST

Category: Gold

Gold bull still bullish

Despite having publicly declared his bullishness on gold when it was trading below $300, Frank Giustra is still bullish on gold at the present levels. In case you do not know who Frank Giustra is, he comes with extraordinary credentials. Precious metals investors need to listen when he speaks. Frank Giustra founded Lionsgate Films, but

The madness of markets – US Treasuries vs. gold

Memoirs of Extraordinary Popular Delusions and the Madness of Crowds is the classic text from 1841 by Charles Mackay that addresses the mass psychology that enables financial bubbles and their inevitable collapses.  The entire book is available here as a free pdf in the Essential Readings section of the site.  Grant Williams follows this theme

CPM Group ridicules Gold Standard

No sooner had word leaked that the GOP was considering a plank in its 2012 platform calling for a gold commission to study the viability of returning to a gold standard, did CPM Group— long known for its anti-gold positions— issue a commentary ridiculing the gold standard.  I disagree with nearly all positions in the commentary. 

GOP platform to call for return to Gold Standard

Supposedly seeking to placate Ron Paul’s supporters, the GOP strategists have included in the party’s 2012 platform’s first draft a call for a “gold commission,” which would investigate again linking the dollar to gold. Linking the dollar to gold would limit—if adhered to, which has proven to be a problem for politicians—the number of dollars that the government/Fed could create. The Establishment sees the idea as dead on arrival.

So many fallacies. So little time.

There’s an interesting interview with Marshall Auerback of Pinetree Captial Management posted over on Mineweb.com. It’s interesting not because of any particular subject matter, but rather the complete contradictions presented therein. The first half consists of a well-reasoned case for owning gold and why it is being remonetized in an overextended financial system. By contrast, the second half is a fallacy laden justification of many of the failed policies that are driving people to own gold.

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