Tuesday, Dec 01st

Last update09:22:36 PM GMT

You are here News Editorials Prairie2: The value of canned goods has collapsed?

Prairie2: The value of canned goods has collapsed?

E-mail Print PDF

GoldGold 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.


Most Recent Related Stories...

The Road To The Paris Attacks Runs Through The Iraq War

Bush and Cheney, architects of warOne Middle East catastrophe apparently wasn't enough for some supporters of the 2003 U.S. invasion of...

Frank Bruni: The Catholic Church’s Sins Are Ours

Frank Bruni It’s fashionable among some conservatives to rail that there’s insufficient respect for religion in America and...

Paris attacks: The West’s fatal misunderstanding of Islamic State

What the West does not understand about ISILThe horrendous attacks on Paris have an eerie resemblance to the events of Sept. 11, 2001,...

Bob Alexander : Nightmare Alley

Haunted house“No live organism can continue for long to exist sanely under conditions of absolute reality; even...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!