A Good Buying Opportunity?
Gold has been on a tear the past year or two, reaching highs not seen in decades. However, in the past month, it has plummeted from $730/ounce to about $560, including a 7 percent drop in price today. Silver, platinum, and palladium are doing similar things.
Is now one of those "dips" that present a good buying opportunity? I think so. The Federal Reserve is still committed to a policy of systematically devaluing the currency, so in the long run, that only makes gold, as a hedge against inflation, look more attractive.
posted by Libertarian Jason at 2:28 PM
4 Comments:
Probably... It's very likely that the "high" price of gold is not so much a true "high" price of gold, but instead is a reflection of a very, very weak dollar.
Stupid government can't give us a currency that is not Monopoly money... gold looks pretty damn good in comparison!
... one of the vilest actions of a government is to expropriate its citizens wealth through inflation and currency debasement. There was nothing wrong with the gold standard, and there remains nothing wrong with the gold standard.
But then again, I'm for 100% reserve banking, too. What do I know?
Of course you're for 100% reserve banking. You're not an idiot.
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