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Gold, gold, GOLD!!!

January 17, 2013 in Gold, Investing, Money

WEDNESDAY, JANUARY 16, 2013 By: Noah Smith (http://noahpinionblog.blogspot.com)

On November 11, 2011, Zero Hedge ran a post from a site called GoldCore. The title was: “Gold Over EUR 1,300 – On Way to ‘Infinity’ on Eurozone Contagion?” Here is what it said:

The unprecedented scale of the [European] debt crisis means that inflation and currency devaluations will almost certainly result from the crisis. Savers and those on fixed incomes will be very vulnerable as they were in the stagflation of the 1970’s and in the economic meltdowns seen in Argentina, Russia and in Belarus as we speak…

However, the US is itself facing a debt crisis which is also of a monumental scale. It is of a scale that it cannot be resolved by the usual kneejerk resorting to the printing presses and today’s equivalent panacea – computer credit creation…

Ron Paul gave another perceptive interview to CNBC yesterday and warned of hyperinflation and the possibility that the dollar could become worthless.

When asked how high the gold price would go and why, he responded:

“well, the question is how much lower is the dollar going to go in purchasing power? and I said to infinity unless we change our ways.”

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