Gold Continues to Rise
Reporting on a $23 jump in the price of gold the other day, The Wall Street Journal headline read, “Gold Surges on Elevated Geopolitical Uncertainty.”
We stopped right there.
When a market makes a big move – any market, stocks, oil, bonds, gold – financial writers have to explain it. In the gold market, if they don’t know exactly what’s behind the move, they can always fall back on “uncertainty.”
That’s probably because the mainstream press always seems to expect as a certainty that the conventional wisdom will prove out in the end, and anything contrary to the conventional wisdom is “uncertain.” Politicians, they trust, make good decisions for their nations, the monetary authorities know what they are doing, deficits don’t matter, we’ll grow our way out of it, and so on.
Perhaps we flatter ourselves in believing we know better, but we have long memories and are familiar with a rich history of precedents. We think that where your money is concerned it is wise to be skeptical of the conventional wisdom of the financial press. Indeed, we suspect that politicians are just as likely to be self-serving, that the monetary authorities don’t know what they are doing, that we cannot spend our way to prosperity.
In any case, we like to think for ourselves. And in most cases what the mainstream press calls “uncertainty” is not uncertain at all.
We invite out clients to review the past six months of these posts. You will find that we have identified a risky stock market that is sustained only by the Fed’s policies, a flight to quality among wise investors world-wide, including new gold-buying priorities by central banks, a world of troubled paper currencies, a badly deteriorating US debt picture, abounding financial bubbles (like student debt), the dollar reserve standard breaking down, a deteriorating domestic business environment, political uncertainty, fracturing geopolitical relations, a socialism juggernaut loose on the land… shall we go on?
Instead, help yourself to our comprehensive commentary about these and many other topics. The mainstream media may be uncertain, but you will understand why we view higher gold prices as a certainty.
If you would like to know more about recent market action and learn how you can protect yourself and your family with precious metals, call your RME Gold broker. If you do not have one, simply call our office and you will be connected to one of our knowledgeable gold and silver professionals