Fool's gold?BY BENJAMIN ONG | MONDAY, 15 APR 2013 10:30AMAt the start of the year, when gold was fetching around US$1600 an ounce, not a few expected the shiny metal to rally to around US$2,000 by year end - US$3,000 if they got lucky. |
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Featured Profile
Brian Redican
CHIEF ECONOMIST
NEW SOUTH WALES TREASURY CORPORATION
NEW SOUTH WALES TREASURY CORPORATION
What makes an economist an economist? TCorp chief economist Brian Redican reflects on over three decades of navigating Australia's economic cycles. Riddhima Talwani writes.
Inflation = political policy enacted to increase the flow and/or stock of currency. Rise of prices is a very typical sympton of inflation. Quantitative Easing policies are going to save USA in the short term, but inevitably cause extremely high levels of inflation if not reduced below the 85 billion per month that the FED is distributing(& stealing). Foreign countries that used to worship USD, prefer not to exchange them for goods & services anymore! Inflation is a TAX on the citizenry. The US government is going BROKE, especially with all of the bailouts & bail ins. Spending 4X what you make DOES NOT HELP. The FED is intentionally bankrupting America to get them into a new reserve currency with all other developed nations. No nation will be represented by this new currency. It will be a one world currency. Holding onto gold & silver is a GOOD idea, especially considering that interest rates remain so low in the USA. Don't get suckered into selling, unless you need to pay off kidnappers(humor)!?!?