My four thousandth post: The Case for Gold

Dear Babypippers,

as suggested by Lexys, I have decided to celebrate my four thousandth post

by offering a thought-provoking topic to you, which I have called

‘The case for gold’.

In the last two years, I have been listening to various speakers from

the Mises Institute appearing on Power Trading Radio, the latest of

which was last weekend, in this episode with Dr. Mark Thornton:

This has led me to appreciate how fiat currencies, especially the US Dollar since

president Nixon separated it from the gold standard in the 1970s, have become the

plaything of central banks and lost any real value.

As argued by the Mises Institute (and the so-called ‘Austrian’ economists)

the pursuit of central bank money-printing has led to the very thing that

they seek to avoid: deflation and a slack in consumer spending.

Also, I have been listening to and reading Jim Rickards, who

has recently published a book entitled ‘The New Case for Gold’; his

point of view is argued in this recent article:

The Elite’s New Case for Gold - The Daily Reckoning

This is a similar argument to the one made by the aforementioned

Dr. Thornton, in this recent article:

Trading aside, or rather treating XAU/USD as an expression of

a world view on what gold means in the age of the Federal Reserve

(rather than seeing XAU/USD price as influencing the fundamental

view on the gold standard), I would like to hear what views you

may have on the case for gold and the return to real value of

currency and the disentanglement of central banks from currency

value (meaning: value should be decided by free market rather than

by a central bank).

Thank you.

Sorry, I am not giving a view on the gold standard. But I do want to comment on your 4000th post…

Often people differentiate between quantity and quality, but in the case of your posts I would like to say that you have made a great achievement, and a solid contribution to this site, on [I]both [/I]accounts, quantity [I]and [/I]quality - a big personal thanks from me :slight_smile:

And likewise from me (especially the part about not commenting on the gold standard :8: ).

There have been at least a couple of times in the past that I only stayed here because you were here, in fact. So you have “a bit to answer for”, one way and another! :8: :5: :wink:

Thank you, Manxx…

Hand on heart, I feel the same way about you.

Looking forward to more stimulating exchanges with

you, baby permitting!

Thank you, Lexy… You are an immensely valuable contributor, and I really enjoy reading your answers and insights, always.

Long may you remain!’

Gold visits the 55 day EMA, but if it breaks that level to the downside, then it may go and visit the 1200 level.