Bubblemania: Part IV, The Mythical "Gold Bubble" | Benzinga.com

Tom Usher commented or added the following:

"... if we use actual numbers for inflation over the last 30 years, then the price of gold would have to rise to approximately $7,500/oz to equal the 1980-high (a more than six-fold increase from today's price)."

Yes, but gold bugs are banking on doing the wrong thing vis-a-vis the fiat currency. That's a terrible position. That's akin to being a robber baron on a certain level. The right position to take vis-a-vis gold is to not want it to be "the" investment commodity because all the richest people own the most of it for one. More importantly though, being pro-gold while being anti-bankster is like being anti-war while being heavily invested in military-contracting corporations.

Also, we weren't all blind to the previous bubbles. I called the housing bust years before it happened. I also called the current downturn. I said double-dip before I saw it anywhere else. I don't know why that is, but it's true.

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  • Tom Usher

    About Tom Usher

    Employment: 2008 - present, website developer and writer. 2015 - present, insurance broker. Education: Arizona State University, Bachelor of Science in Political Science. City University of Seattle, graduate studies in Public Administration. Volunteerism: 2007 - present, president of the Real Liberal Christian Church and Christian Commons Project.
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