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Thursday, October 29, 2009

Gold to Rise to $2,000 Amid ‘Massive’ Inflation, Superfund Says

Oct. 28 (Bloomberg) -- Gold may rise to a record $2,000 an ounce in the next three years as investors hedge against “massive” inflation sparked by governments printing money, according to Superfund Financial Singapore Pte’s Aaron Smith.

“In the next few years, after the deflation cycle, we’ll see massive inflation,” Managing Director Smith, 30, said in an interview. “Soon, when you go to buy a cup of coffee, you’ll pay $20 or $30 because the dollar won’t be worth anything.”

The company’s Superfund Green Gold A Fund, which has more than doubled since its inception in 2005, has lost 15.6 percent this year because of higher volatility, said Smith, who joined in 2002. Gold rose to an all-time high this month as governments including the U.S. boosted debt to combat the global recession.
“When the U.S. dollar crashes, all the paper currencies have to crash, otherwise if their currencies are too strong, their economies will be weak,” said Smith, who issued similar gold forecasts in May and earlier this month. “Another excellent buying opportunity for investors is silver.”
Gold for immediate delivery, which touched a high of $1,070.80 an ounce on Oct. 14, traded at $1,039.32 at midday in Singapore. The metal has strengthened 18 percent this year, while the Dollar Index, a six-currency gauge of the dollar’s strength, fell 6.4 percent.

Wednesday, October 28, 2009

Gold Hits 3-Week Low on "Scrap Supply Victory"; Bank of England Says Inflation Fears "Only for Nutters" - Tuesday 27th October 2009

The price of Gold dropped to a 3-week low as Asian stock markets fell hard early Tuesday, twice bouncing from $1037 an ounce as European stocks crept higher by lunchtime in London.

The US Dollar rose on the currency market, while crude oil held at $78 per barrel.
Government bonds ticked higher, pushing interest rates down.
The US Treasury will today auction $44 billion in new two-year debt.

"Physical [Gold] demand from India picked up on this move," says one London dealer, "but it seems scrap supply from Asia (strong once again last night) has won the fundamental battle."
"Gold has broken lower," agrees Scotia Mocatta's technical note, "[after] price action over the past two weeks formed into a small triple top.

"It is too early to say whether the move will be deeper then 1025," the bullion banks' analysts say.
"1044 will likely hold any retracement."
"Physical buying is being overshadowed by investment selling of gold," says another bank comment, "but we have seen some buying interest at these levels.
"Technically, Gold could test $1024, from where we see a recovery."

On the data front this morning, the Case-Shiller Index of US home prices showed a smaller-than-expected drop of 11.3% for the year to Sept.
Money-supply growth in the 16-nation Eurozone fell last month to 1.6% annually, the slowest pace since current records began in 1980.
Outstanding loans to households and business across the 350 million citizen currency zone shrank for the first time on record, down 0.3% from September last year.

Gold Declines on Concern Rising Dollar May Erode Metal Demand

Oct. 27 (Bloomberg) -- Gold fell for a fourth straight session, the longest slide since August, amid concern that the dollar will extend a rally, curbing demand for the precious metal as an alternative asset.

The dollar rose against a basket of six major currencies, adding to three consecutive advances since Oct. 21, when it touched a 14-month low. Gold, which often moves inversely to the greenback, has dropped 2.7 percent in the past four sessions.
“Gold doesn’t have that much buying interest,” said Matt Zeman, a LaSalle Futures Group Inc. metals trader in Chicago. “The dollar could undergo a wicked short-covering rally, and the gold market needs to look out below.”
Gold futures for December delivery fell $7.40, or 0.7 percent, to $1,035.40 an ounce on the Comex division of the New York Mercantile Exchange. The slump was the longest since Aug. 10. The metal has climbed 17 percent this year, reaching a record $1,072 on Oct. 14.
A rise in bets on a drop in futures is a “signal that an increasing proportion of market players view the current gold price as unsustainable,” Eugen Weinberg, a Commerzbank AG analyst in Frankfurt, said yesterday in a report. “Should this sentiment spread further, gold could come under considerable pressure.”

Hedge funds and other large speculators trimmed their net- long position in gold futures by 2 percent as of Oct. 20, from a record in the previous week, and miners, producers and commercial users increased their net-short position, Commodity Futures Trading Commission data show. A net-long position benefits when prices rise, while net-shorts gain from a decline.

Thursday, October 22, 2009

"We see it as now the FLOOR (1000 oz)

"$1,000 an ounce is thought by some to be gold's ceiling..." John Doody wrote last week to his subscribers. "We see it as now the FLOOR."

One thing I like about this former economics professor is that it's all about the numbers to him... It's not about conspiracy theories like it is with so many gold bugs. For example, John will actually tell you when gold stocks are overpriced according to his model – imagine that with dyed-in-the-wool gold bugs!
So why does John think gold will keep going up now, when many others say it's bumping up against its ceiling? I asked John that yesterday...
It's simple, he said, if you just compare the price of gold to interest rates.
In short, when interest rates are high, then gold (which pays no interest) falls. And when interest rates are low (like they are now), gold rises. To keep it apples to apples over time, John subtracts inflation from interest rates.
In the 1980s and 1990s, you earned high rates of interest on your cash. So gold was flat for those two decades. Plain as day.
But for much of this decade and the decade of the 1970s, you typically earned NEGATIVE interest on your cash (after you subtracted inflation). So gold has soared.
John sees those negative real interest rates continuing. So gold will keep rising. Simple as that.
For the specifics, currently, the consensus inflation rate forecast for the first half of 2010 is around 2%. But banks basically pay you no interest. So you have a choice: Own gold, which pays no interest. Or hold cash, which pays you NEGATIVE interest, when you take inflation into account.
Yesterday, John explained that since the Federal Reserve will likely keep interest rates very low for a very long period of time, gold can keep going higher.
I asked John if gold had become too popular these days. He said absolutely not...
"Look, hedge funds are just starting to get into gold. Retail investors haven't bought. CNBC calls gold a bad inflation hedge. Central banks haven't bought. If gold was popular, I'd have a hundred thousand subscribers, not a couple thousand. We've got a long way to go. $1,000 isn't the ceiling... it's the new floor."
John ran the numbers, and in a sneak preview of his upcoming issue, he proves how the price of gold has "beaten" inflation fivefold since it first started freely trading 40 years ago.

"CNBC says that gold has only gone from a peak of $850 in 1980 to $1,050 today – for a $200 gain," he said. "So CNBC's conclusion is that gold is not a good inflation hedge... That's just plain wrong, but the people believe it."
To be brutally honest, if you plan to be a serious investor in gold stocks – and you're willing to do your homework – you're foolish if you don't read John's newsletter. John updates his unique valuation numbers every month for the 75 precious metals companies he follows. Plus, he writes up a detailed analysis about once a quarter on each company.
Up 80% This Year
The Easiest Way to Tell If Gold Is in a Bubble
It is the best starting point in the business. It's the first place I go to find out how much gold each company has in the ground and what its cash flows are.
If you agree with John – that $1,000 gold is the new floor, not the ceiling – chances are, you're buying gold stocks. And if you're buying gold stocks in size, you ought to do it with John's help.

Good investing,


Tuesday, October 20, 2009

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Saturday, October 17, 2009

Why China has gone crazy for gold.

In April, for examplegovernment's Foreign-Exchange Agency announced the purchase of an additional 16 MILLION ounces for state coffers. And just a few months earlier, National Geographic Magazine reported that for the first time China had surpassed the U.S. as a buyer of gold jewelry. But here's the amazing thing few investors realize...

Behind the scenes, in a move that has gone almost completely unreported in the Western press, the Chinese government has created a gold investment that could dwarf the returns of gold bullion, ordinary gold stocks, or any other type of gold investment you've heard of before.

I wouldn't be surprised if you see gains of 1,000% or more. I realize that may sound impossible, but consider... This is not the first time Beijing leaders have secretly created such an opportunity:

In the late 1990s, the Chinese government created two similar investments. One (to help the local insurance industry) went up more than 625% in just a few years... the other (to aid the energy sector) has gone up about 1,084% over a similar period. But this is the first time Chinese officials have intervened in this way in the gold markets—and I expect the result will be a windfall for savvy investors over the next few years.

After all, gold is one of the only "buy and hold" investments in the world right now. It is also the only investment in the world that has gone up EVERY YEAR for the past five years straight. And, remember, China remains the fastest-growing economy on the planet, with the wealthiest government on Earth.

The point is, if you are interested in an extremely lucrative way to own gold, right alongside the Chinese government, this is something you should consider. I can just about guarantee you will not hear about this opportunity in any mainstream media publication. I heard about it only because of a contact in the industry, who met recently with officials in Beijing.

Brian Hunt,

Editor in Chief, DailyWealth

Friday, October 16, 2009

The Federal Reserve Is Openly Telling You to Buy Gold and Silver

By Porter Stansberry

Thursday, October 15, 2009

At the end of last year, I began writing about what I saw happening as the Federal Reserve started assuming the liabilities of the investment banks and the federal government began deficit spending at an unprecedented pace.

I've been calling these changes the "End of America" because I believe the fiscal policies of the U.S. will result in a massive devaluation of the dollar and the end of the U.S. dollar as the world's reserve currency.

To get an idea of why I'm concerned, have a look at a chart James Bullard, president of the Federal Reserve Bank of St. Louis, included in a recent presentation to the National Association for Business Economics.

What you see here is Bullard's estimate of the future growth of Federal Reserve assets

Sunday, October 11, 2009

Price of Gold in Dollars (Record High), Euros (-10%), and Yen (-10%)

The price of gold closed at record highs today exceeding $1,040 per ounce throughout the day. While gold is at record highs in dollar terms, the commodity is still down 10% from its highs when priced in Euros and Yen. As shown in the charts, the price of gold is up considerably over the last five years, but the recent run has only been strong in dollar terms. This indicates that the strength is solely a function of a weaker dollar rather than any real pickup demand

**P/s : Adakah bermaksud harga emas naik ini hanya bersifat semantara?
Any comment???

Bermulanya gesaan memertabatkan penggunaan Dinar-Dirham

Perkenalkan Dinar-Dirham.

Dr Hakimi Ibrahim. Utusan Malaysia: Rencana (06/10/1998)

APAKAH yang tersirat di sebalik laungan reformasi sekarang? Laungan-laungan itu tidak pun disertai dengan ajakan untuk reformasi sistem kewangan yang dibelenggu oleh pengamal riba.

Soros, Cohen, Camdessus, IMF dan konco-konconya patut diperangi.

Kita perlu mengenal musuh dan mengetahui kaedah peperangan riba yang pada peringkat awal ini hanya menggunakan indeks-indeks pasaran yang diperjudikan.

Perdana Menteri kita Datuk Seri Dr. Mahathir Mohamad lebih terkehadapan dengan membuat reformasi kewangan yang besar ke arah membebaskan diri dari cengkaman ahli riba termasuklah menyisihkan mereka yang kelihatan bagaikan bersimpati dengan parti riba seperti IMF.

Sementara itu wacana islamisasi ilmu dan sains telah menjadi seiring dengan islamisasi bank dan lain-lain instrumen dalam sistem kewangan Barat.

Label-label yang lebih bermoral dalam sistem kewangan digunakan dengan niat baik tanpa menyedari bahawa wang yang digunakan itu adalah wang yang boleh dijual beli, dispekulasi dan diturun naikkan nilainya serta tiada sandaran emas lagi.

Pendek kata wang sekarang tiada nilai hakiki dan telah menjadi suatu komoditi. Wang untuk beli wang. Proses islamisasi pula terperangkap dalam islamisasi institusi dan bukan mengislamkan insan.

Jika wang sudah menjadi komoditi maka tidak hairanlah perkara-perkara seperti pendidikan dan perubatan pun menjadi komoditi. Selagi wang sebagai komoditi tidak dihalang maka jangan haraplah isu seperti pengkomoditian pendidikan boleh diselesaikan kerana yuran universiti pun menari mengikut rentak indeks mata wang. Imej baik seseorang pun lazim dikomoditikan terutama oleh pihak media dan sesetengahnya mengidolakan imej tersebut.

Imej baik menyebabkan seseorang itu tidak boleh salah kerana dia kelihatan terlalu baik.

Tanpa disedari umum menjadikannya seorang model seperti mana Diana diidolakan dalam idealisme Cinderella. Idealisme dan moraliti seseorang mungkin dipertaruhkan dan mungkin dipertuhankan. Awasilah isme dalam idealisme atau moralisme. Mungkin sekarang kita sedang melihat Anwarisme pula.

Sekarang adalah masa untuk membuang imej diri sesiapa pun yang nampak seolah-olah bersekongkol dengan parti riba. Kita mahu lepas bebas dari pengaruh Cohen, Camdessus, Rubin, Soros dan polisi riba IMF. Kita mahu bebas dari pengaruh luar. Kita mahu sistem wang yang benar-benar bebas.

Anwar mungkin berniat baik. Mungkin beliau mahukan proses pemoralan atau islamisasi bank dilanjutkan kepada islamisasi IMF walaupun polisi riba IMF lebih mencengkam. Walau bagaimanapun selagi beliau tidak melihat kepentingan dinar emas dan dirham perak yakni wang yang terdapat dalam wahyu Ilahi maka selagi itulah konsep islamisasinya tidak memberi sebarang makna langsung.

Kita mesti memahami bahawa kita dalam keadaan 'perang riba' sebagaimana periystiharan perang oleh Allah dan Rasul-Nya di dalam al-Quran terhadap pengamal riba. (Lihat surah al-Baqarah ayat 278/9).

Niat baik sahaja tidak cukup kerana kita mungkin terperangkap dalam jerat riba. Kita tidak mengatakan seseorang itu ahli riba tetapi yang penting kita mesti jauhkan diri dari parti riba. Bandingan keburukan yang Allah berikan tentang riba adalah sangat dahsyat seperti yang dinyatakan dalam hadis berikut.

Abu Hurairah berkata bahawa Rasulullah s.a.w. bersabda: " Riba ada 70 bahagian. Yang paling kecil bersamaan dengan seorang lelaki berkahwin dengan ibunya sendiri". (Ibn Majah, Baihaqi). Abduh (1845-1905) mahu memodenkan sistem kewangan Islam apabila menfatwakan halalnya faedah dari wang simpanan. Kemudian muridnya Rashid Redha telah meneruskan kepercayaan tersebut seperti tulisan-tulisannya dalam al-Manar.

Abduh bermula dengan menghalalkan (islamisasi) faedah bank dan sekarang ramai pula beranggapan islamisasi bank dan bursa saham sudah memadai dalam menghadapi riba. Adakah riba Islam?

Kita tidak bermaksud mengatakan semua orang menghalalkan riba dan begitu juga dengan gerakan Islam yang ada. Tulisan ini ingin juga menghuraikan tentang 'pengaruh kefahaman' tentang riba yang bermula dari Abduh menghalalkan faedah bank dan seterusnya di era ini segolongan para korporat baru Islam merasa sudah cukup dengan melabelkan bank dengan nama yang bermoral. Bursa-bursa Islam pun timbul beserta dengan pemoralan instrumen kewangan tanpa menyedari hakikat wang dan sistemnya. Dr Mahathir sendiri pernah memberi komen bahawa bursa-bursa saham pun sudah mula menampakkan tabiat judi.

Pengaruh kefahaman tentang riba oleh Abduh sememangnya menular hingga sekarang. Jika begini Abduh mungkin silap kerana fatwa dengan niat baik beliau tidak melepaskan kita dari dipermainkan oleh para spekulator yang boleh bermain dengan kadar faedah untuk faedah mereka. Dalam pada itu mata wang pula boleh dijual beli.

Pengaruh perbicaraan tentang faedah tadi menyebabkan kita tidak boleh balik ke akar umbi mengenai wang dalam Islam. Ramai orang terperangkap dengan pengaruh kefahaman tentang riba yang hanya memperkatakan tentang faedah sahaja. Jika tidak ambil faedah maka sudah lepas dari riba? Jika labelkan Islam pada instrumen riba maka bebaslah kita dari riba?

Persoalan pokok bukannya tentang faedah.Persoalan faedah hanyalah suatu decoy atau umpan untuk memerangkap kita dari zaman Abduh hingga kini. Wang simpanan kita mungkin berbunga (atau untung?) sehingga 100 peratus tetapi sebenarnya faedah atau bunga itu tidak berfaedah langsung jika wang boleh disusut nilai oleh ahli riba.

Di negara jiran, wang disusut nilai sehingga lebih dari 500 peratus lalu mempapa kedanakan rakyat. Jadi wang itu sendiri tiada nilai hakiki. Sekarang kadar faedah pula yang menentukan nilai wang. Jelasnya umpan tadi menyebabkan kita akan terus berdebat tentang faedah dan tidak akan mempertikaikan tentang sistem wang yang sudah tiada sandaran emas lagi. Wang sekarang hanyalah kertas dan signal elektronik yang boleh dijual beli dan bukan lagi barangan sebenar seperti emas dan perak seperti zaman ketika Islam berkuasa. Imam Malik r.a berkata wang mestilah barangan. Wang sekarang bukan barangan dan dengan itu wang sudah mati seperti yang tertulis dalam buku The Death of Money oleh Kurtzman.

Tidak hairan jika faedah itu dikatakan halal kerana ia memang kelihatan 'halal' jika sistem 'wang kertas tanpa sandaran' yang boleh dispekulasi itu dihalalkan terlebih dahulu. Sistem faedah bank ini hanyalah lanjutan dari penerimaan sistem kertas tanpa sandaran emas dan penyisihan dinar emas dan dirham perak yakni mata wang seperti terdapat di dalam al-Quran.

Sistem wang kertas tanpa sandaran memang didominasi oleh pihak Amerika dan ahli riba melalui wang kertas dolar Amerika. Sistem kertas sepatutnya hanya boleh diterima sebagai 'fulus' atau wang pecah. Dalam hal riba ini kerajaan Malaysia telah berani mencabar sistem riba wang kertas dengan menyeru supaya diharamkan jual beli wang.

Kawalan ringgit Malaysia yang dilakukan sekarang menunjukkan kesungguhan kita untuk menjadikan mata wang bebas dari para spekulator dan dengan itu bebas dari ahli riba seperti Soros. Kita juga mahu terlepas dari cengkaman parti riba seperti IMF.

Pembatalan wang kertas RM1000 dan RM 500 sebenarnya suatu langkah yang sangat bersesuaian dalam mengetengahkan dinar dan dirham. Nilai dinar emas buat masa ini adalah tidak lebih dari RM200 maka sekarang dengan pembatalan tadi, sudah tidak ada lagi wang kertas yang melebihi nilai Dinar. Wang kertas paling besar hanyalah RM100.

Sekarang wang kertas sudah mula sesuai dijadikan sebagai 'fulus' yakni sebagai 'duit pecah' sahaja. Kita berharap dinar dan dirham akan dapat diperkenalkan secara selari dengan fulus (wang kertas yang tidak lebih dari RM100 bersama dengan syiling-syiling logam lain.)

Jika kita perkenalkan dinar dan dirham bermakna kita telah mengembalikan sistem mata wang Islam. Secara serentak wang kertas yang masih ada pun akan tersandar pada emas. Pihak kerajaan boleh menetapkan setiap dinar bersamaan dengan RM200 sebagai contoh.

Maka kita ada sistem yang selari tanpa perlu membuang ringgit Malaysia. Dengan itu kita tidak perlu menjual emas kita untuk ditukarkan dengan dolar Amerika tetapi terus mencair atau meleburkannya untuk ditempa menjadi wang sejati. Inilah liquidity sebenar.

Apabila ini berlaku maka zakat wang yakni dinar dan dirham boleh dengan mudah dikira tanpa merujuk kepada kadar tukaran asing atau harga belian emas.

Menurut kaedah zakat setiap 40 keping dinar yang cukup tempohnya wajib dibayarkan sekeping. Setiap 200 keping dirham pula dibayar 5 keping dirham.

Usaha kerajaan untuk membebaskan kita dari cengkaman riba dengan membuat reformasi sistem kewangan adalah bersesuaian dengan seruan Mufti Mesir, Dr. Nasir Farid Wasil supaya ditegakkan kembali kekuatan ekonomi Islam berasaskan mata wang emas dan perak bagi menggantikan dolar Amerika Syarikat. Maka piawaian baru antara negara-negara Islam ialah dinar dan dirham.

Akhir sekali, sekarang ialah masa untuk golongan Islam tidak kira dari ABIM, JIM, ASASI, Pas, UMNO atau mana-mana pihak sekalipun (termasuklah saudara Anwar) bersama-sama dalam peperangan ke atas riba seperti mana yang diisytiharkan oleh Allah dan Rasul-Nya. Janganlah kita tergolong dalam golongan yang diperangi oleh Allah dan Rasul-Nya. Ini bukan masa untuk politik peribadi. Inilah reformasi sebenar.

Tindakan yang lebih drastik tetapi menurut fitrah ialah memperkenalkan dinar dan dirham. Ayuh! Dr M. Malaysia Boleh!

Nota: Dinar (syiling emas 22 karat seberat 4.3 gm), dirham (syiling perak seberat 3 gm).


Good story to share... this article was written in 1998, almost 11 yaers..

Saturday, October 10, 2009

Cerita mengenai Perak

Tahukah anda bahawa matawang dirham adalah ukuran yg di ambil berasaskan nilai berat Perak... 1 dirham adalah diukur berat perak yg bersamaan 2.975 gm. Berbeza dgn 1 dinar yg diukir beratnya 4.25 gm dgn 22 K.

Jadi ,penggunaan matawang dirham adalah lebih kepada pembelian barangan yg lebih kecil nilainya. Contohnya 1 dirham bersamaan 2.975 gm, di mana 1 gm perak lebih kurang Rm 2.24. Maka 1 dirham bersamaan RM 6.60 nilainya. Maka barangan harian yg tidak melebihi nilai rm 500 boleh menggunakan dirham sebagai medium jual beli.

Jadi, kita boleh menolak pandangan masyarakat, bagaimana nak beli barang harian dgn menggunakan dinar... Kita sekarang diberi pilihan oleh Islam dalam penggunaan Dinar dan dirham itu. Maka, berfikirlah dgn waras, takkan anda hendak beli barangan yg bernilai 2 dirham menggunakan 1 dinar???

Namun harus ingat, matawang dinar juga dibahagikan kepada beberapa bahagian lagi bagi memudahkan aplikasi jual beli. Maka kita akan dapat lihat 1/2 dinar dan juga 1/4 dinar... Jadi, siapa kata kita tidak boleh mengaplikasikan penggunaan matawang Dinar-dirham ini.

Jadi, marilah kita sama-sam berfikir dan memertabatkan matawang Dinar-Dirham ini.

Sunday, October 4, 2009

G-7 finance ministers warn recovery 'fragile'

ISTANBUL (AP) - Finance ministers from the Group of Seven rich countries warned the recovery remains "fragile" and tried to talk up the U.S. dollar amid fears it could fall farther and disrupt the global economy.

The officials said in their closing statement after meeting Saturday in Istanbul that decisive moves by governments had improved conditions for the world economy and financial markets.

But they warned against "complacency" since growth prospects remained "fragile" and unemployment continues to rise. Figures on Friday showed the U.S. economy shedding more jobs than expected in September, with unemployment at a 26-year high of 9.8 percent.

Saturday, October 3, 2009

Nice Article About Gold, Last Part: It's foolish to ignore 5,000 years of monetary history...

The only real – albeit shallow – criticism of the gold story right now is that it's primarily a US Dollar story. For Aussie investors, a collapsing greenback doesn't equate to a higher Aussie-dollar Gold Price. We would say, though, that this is a short-sighted appreciation of what gold is saying about the modern money system.

The modern money system is built on credit, debt, and government money backed by nothing. To believe that does not mean you'd covert all your assets to bullion, or all your shares to Gold Mining stocks. But it IS to believe that the architects of this system are criminals who effectively steal your wealth through inflation and control of the money supply.

If you have confidence in that system, you're a sucker. And if you don't hedge against its collapse, you're unprepared. After the last two years, is it so farfetched to believe that the foundations of financial capitalism – based on unsound money as they are – are weak by design and will fail in a world of increasing complexity and interconnectedness?

If you don't think it could happen, you haven't been living on Planet Earth. Either that or you're in a business where you want everyone to go back to doing what they were doing pre-Lehman collapse because it's good for your business. If that's the case, it's fine. But it's foolish to ignore 5,000 years of monetary history.

Friday, October 2, 2009

Nice Article About Gold Part II : It's foolish to ignore 5,000 years of monetary history...

And for people who trot out the canard that you can't buy a Big Mac with Gold Coins, what do you think goldsmith's notes – the original bank notes – were? They were receipts that indicated gold ownership and your ability to pay a debt. You could exchange goldsmith's notes as payment for goods and services because the paper claim was backed by a real asset. Goldsmith's notes were the precursor to bank notes. Same type of system as today, only with real money.

Is this all just some nostalgia for a financial system that no longer exists? Does gold have a real role to play in the future financial system? Well, Gold is a threat to the fiat money peddlers from the warfare/welfare State because it exacts a heavy price for deficit spending and money creation. The expansion of credit or deficit spending is always possible in a fiat money system, and it thus placates voters with false prosperity borrowed from the future.

The rise in the Gold Price, therefore, is telling us that markets are increasingly suspicious of government-backed money and its ultimate affect on the real economy. Or, as Greg Canavan of Sound Money, Sound Investments says:

"Gold is saying that the crisis is not over, that it is in fact getting worse. We are seeing Gresham's Law in action, as bad money pushes out the good. Gold is being swept off the market by millions of individuals who know that without fail governments always ruin the value of their paper money."

Thursday, October 1, 2009

Nice Article About Gold Part 1: It's foolish to ignore 5,000 years of monetary history...

It's nice to see the media actually discussing Gold. But what's a little disturbing is how poorly understood gold's historic role in the financial system is. What's more, doesn't anyone know what sound money is any longer?

Our burden today, then, is to remind these nattering nabobs of negativism that gold is not anyone else's debt. It is not anyone else's liability. It cannot be created with a few keystrokes. And for thousands of years, millions of people from all walks of life have been happy to use it as money because of its unique features (divisibility, durability, scarcity, difficulty in counterfeiting).

Gold is a commodity. But its price is not driven exclusively by the Indian jewelry market or investment demand. As a tangible commodity, gold has some of the aforementioned qualities that make it a fantastic medium of exchange.

SAX-GOLD at Mudah.Com

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