Betting on Gold a Bet Against Currency Management

While stocks have been going nowhere, guess what’s been going up. You know. Gold! That’s right, gold has been in a bull market for the last 10 years. And this year, gold is up 28%.

That’s a trend we like. Because it is long. Solid. And it shows no sign of stopping anytime soon.


Because the world monetary system has a rendezvous ahead of it too…a rendezvous with destruction. Until that’s behind us, it’s still ahead of us.

“Wait a minute, Bill… How do you know the monetary system is going to crack up? You admit that you don’t get to read tomorrow’s headlines before everyone else.”

Good point.

Of course, we don’t KNOW anything. We’re just guessing. But it seems like a good guess. Let’s put it this way, it’s an extrapolation of current trends in which we have great confidence.

Ben Bernanke admitted this week that he didn’t see the problem coming. Which confirms what we knew all along – the people running US monetary policy have no idea what they are doing.

Gold is a bet against Ben Bernanke. It’s a bet against the feds. It’s a bet against a system that is corrupt and reckless. It’s a bet that the managers of a managed currency will sooner or later manage to mess it up.

About Bill Bonner 144 Articles

Affiliation: Agora Financial

Since founding Agora Inc. in 1979, Bill Bonner has found success and garnered camaraderie in numerous communities and industries. A man of many talents, his entrepreneurial savvy, unique writings, philanthropic undertakings, and preservationist activities have all been recognized and awarded by some of America’s most respected authorities.

Along with Addison Wiggin, his friend and colleague, Bill has written two New York Times best-selling books, Financial Reckoning Day and Empire of Debt. Both works have been critically acclaimed internationally. With political journalist Lila Rajiva, he wrote his third New York Times best-selling book, Mobs, Messiahs and Markets, which offers concrete advice on how to avoid the public spectacle of modern finance.

Since 1999, Bill has been a daily contributor and the driving force behind The Daily Reckoning.

Visit: The Daily Reckoning

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