Wednesday, April 1, 2009

The Gold Standard of Hypocracy

Rosland Capital is a firm that advocates investing in gold coins and small gold ingots that they will gladly sell to you. This is a strategy that is probably sound given the U.S. government's penchant for spending and monetizing the ensuing debt. The major caveat is that the same government that is hell bent on creating the economic instability we are facing has in the past prohibited gold ownership by its citizens.

The irony is that Rosland Capital chose G. Gordon Liddy to be its spokesperson. This is the same Gordon Liddy who was willing to do any dirty trick and violate the constitution in order to keep Richard Nixon in office. Nixon was the president who severed the dollar from its last vestige of being tied to a gold standard. This allowed the uncontrolled spending of the last 35 years.

If you do buy gold, remember that when the dollar tanks and inflation becomes hyper, it is likely that Obama, or whoever is president, will force you to hand over the gold just like Roosevelt did during the Great Depression. Those who decided to hide their gold had to wait about 40 years before they could trade it in for something other than the government's mandated price of $35 per ounce.

I am maybe just young enough to try this, although I might not be young enough to remember where I buried my bullion. Thankfully, my bride is so much younger than I. And she is more beautiful than gold.


twc said...

Should have bought gold two-three years ago. Too late now because speculation and fear have pushed the price higher than it should be.

Last time this happened the price of gold plummeted after Reagan came to office (roughly). Gold had been $900.00 an oz and it dropped to about $150.00 in a short period of time.

Chatelaine said...

Hey, I'm no gold digger! ;-)

TWC said...

Hey, NoStar on the drums!

Th Boy had his first drum lesson the other day over at the Fender Museum.

The Captain said...

Heaven help the lad. He will be doomed with hearing jokes like this:

What do you call someone who hangs around musicians?

A drummer.

I wish him well and I wish you earplugs.

Cap'n NoStar

TWC said...

They got hi-tech drums that have earphones these days. Don't know that I can afford them after all the braces and bridges.

I should have waited for national health care. [snaps fingers and says shucks]