Gold closed at $1355/oz today, nearly $600/oz below its peak less than two years ago. I said then, sell, sell. Man did I get the mail from the gold bugs. I was just crazy, hyper-inflation was going to happen any minute, the USD would be worthless, and gold would be $10,000/oz within months.
The pundits are blaming gold's collapse on reduced growth in China, as if 8% annual growth was bad. As I recall the imminent collapse of the Chinese economy was one of the compelling reasons to buy Glenn Beck's gold.
The race to the bottom is being driven by margin calls since gold is nothing but another commodity. In fact, the panic is driving down all commodities and stocks as well as investors try to get into a 'liquid' position. As in, floating on top and not drowning.
“He’ll do whatever I want him to do,” said Donald Trump, addressing his discussions with Benjamin...
The meaning of the term “ceasefire” should be self‑evident. Yet Israel’s strikes have killed scores of...
While the world watched the pomp of Donald Trump’s trip to Beijing, the US was turning...
The president of the United States threatened this week to commit genocide against Iran. As Israel...
