Be Afraid, Be VERY Afraid

I work in mining, often in gold. Rising gold is good for me. For everyone else, not so much. As of today, October 15, 2010, the price of gold has continued to rise steadily in a way rarely seen. The reason? Two words. Depending on your politics, those words are “quantitative easing” or “printing money”. Follow the trend here Kitco Live Gold This is an indication of the value of the American dollar. I’m not a gold standard guy, but rather a believer that real things don’t change much in value, rather only in price. In 1928, an ounce of gold would buy you a nice wool suit. Today, an ounce of gold will buy you a nice wool suit. Some things have genuinely dropped in price. Computers are a good example. There are not too many others.

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About John Eggert

A minerals processing engineer in Canada. A cynic by nature, but open to being convinced!
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