Gold is Money Everything Else is Credit

Robert Ian : Gold is Money Everything Else is Credit , on July 13, 2011 Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.



here is a transcript of the Q&A between Dr Ron Paul and FED chairman Ben Bernanke about Gold being money or not being money :
Paul: “Do you think gold is money?”

Bernanke: “No. It’s a precious metal.”

Paul: “Even if it’s been money for 6,000 years? Somebody reversed that and eliminated that economic law?”

Bernanke: “Well, you know, it’s an asset. Would you say treasury bills are money? I don’t think they’re money either, but they’re a financial asset.”

Paul: “Why do central banks hold it (gold) if it’s not money?”

Bernanke: “Well, it’s a form of reserves.”

Paul: “Why don’t they hold diamonds?”

Bernanke: “Well, it’s tradition. Long-term tradition.”

Paul: “Some people still think it’s money.”

Silver Better Bet than Gold says Peter Turville-Ince

Silver Better Bet than Gold says Peter Turville-Ince , Head of Commodity & Equities Strategy at Compass Global Markets, who is long-term bullish on silver.Gold prices in Euro and in British pound hit record highs for second consecutive day , Peter Turville-Ince prefers silver over Gold for the longer term

James Turk : Gold and Silver prices to go on fire this summer

James Turk : Well I think the precious metals are going to do quite well this summer. And I don’t agree that QE2 is going to end in June. It may “end” in June but it is not going to end on August 2^nd because on August 2^nd the US government is going to increase its spending limit probably by $2 trillion and the Federal Reserve is going to have to step in and start buying some of that government debt and run the printing presses again with all this new money creation. And I think that is what is going to light a fire under both gold and silver this summer. extract with an interview with Chris Martenson published on infowars.com today . James Turk explains why he expects: - The US Government to raise the debt ceiling in August, which will require the Federal Reserve to print more money in order to soak up the new debt, sending gold and silver prices much higher this summer.The banksters will use some of that money to purchase paper shorts on Silver at the comex. How do I know? They have already been doing from QE1 to QE2. They have done a really good job keeping the price down and yet Silver is up 900% since 2001. While the cental banks of China India Russia and others have been focusing on Gold their efforts have resulted in a 600% increase in the price of Gold. Objectively speaking Gold could very well outperform Silver. I’m sticking with the devil’s metal however. Crash JP Morgan. Buy Silver.

Gold and Dollar rallying together ?

Gold and Dollar rallying together indicates the flight to security , The biggest breakout for Gold would be a break through the $1577.70 The May High....is gold the way to protect your portfolio, and what is the best way to get in on the gold action? A look at whether the precious metal is a good way to protect your portfolio and the best way to get in on the action, with Imaru Casanova, MLV & Co. , and Darin Newsom, Telvent DTN.

Peter Schiff-Gold to $10,000, Gold IS money!!

Even though the dollar appears strong. When you compare the dollar to real money , it's falling like a rock. Peter predicts DOW and gold 1:1 Based on the current inflationary policies of the United States Peter Schiff had predicted a $5,000 dollar an ounce gold price sometime in the near future. Now that Europe has made it clear they will execute the same inflationary policies across the Euro Zone Peter now believes that $10,000 dollar/ounce gold price is not out of the question. As more people, governments, and institutions flee fiat currencies and seek the safety of precious metals, gold could very well see these unprecedented levels in it's price.The demand for gold is there because gold is a safe haven. With the debt of major currencies increasing and economies weakening of course you want a safe haven.

Hans Goetti Bullish on Gold in Long Term

Hans Goetti, Former head of research services group , Citi private Bank and Chief Investment Officer at Finaport says commodities will be under pressure if we do not see a re-acceleration of global growth in second half of the year.

Bob Chapman : gold and silver are going to go up a 100 to a 150 percent within the next 6 months

Bob Chapman : gold and silver are going to go up a 100 to a 150 percent within the next 6 months




 Bob Chapman  :   ...commercials mean banks and these are the characters that have been rigging the arket for years , they were very heavily short and what happened is they covered a good part of their shorts that means that either they stay out of the market or they go long , I do not think they are going to go long so they are to go short may be sometime in the future ...this means there is no overhang on the Gold and Silver, in the next while within 6 months probably much sooner gold and silver are going to go up a 100 to a 150 percent , that's for historical perspective and make notice of it says Bob Chapman of the International forecaster , I have been doing this for 52 years , I know everything that happens in the Gold and Silver market I was the largest gold and silver stock broker in the world and so I know what's gonna happen ....and there is going to be enormous amount of money made and so if you are thinking about buying  gold and silver coins bullion or shares do it because you will never buy them any cheaper

What is causing the Gold price sharp decline ?

Silver and Gold prices have taken a nose dive on Thursday and then again today Friday . $1,500 Key Support Level for Gold says Jon Nadler, senior analyst at Kitco.com . This diving is more pro dollar than against Gold , The US Dollar seems to be the safe heaven for the moment

Central banks net buyers of Gold in 2011 and 2012 says Michael Haynes

Central banks net buyers of Gold in 2011 and 2012 says Michael Haynes "Central banks have stopped selling their gold and have started buying gold," Michael Haynes, CEO, American Precious Metals Exchange told CNBC Thursday.

Gold and Silver mini Rally

Both Gold and Silver are rising in prices today while the dollar is going down , Trader Rog gives his outlook for the precious metals this summer and next fall as well as the gold stocks , Rog says that we may see an explosive rally in gold and silver prices by the end of the coming fall

Back to The Gold Standard

The power of Gold we should return to the Gold Standard and to a dollar as good as gold , the biggest problem we have is the inflation says Lew Lehrman chairman of the Lehrman institute he discusses with judge Napolitano how the GOP 2012 POTUS candidates are doing a bus tour about a return to the gold standard and why it's so important to be an issue in the campaign.Inflation not only destroys people's savings but cause people to lose their jobs , cash is gold according to constitution says Lew Lehrman the founders money was the precious metals primarily Gold a dollar as good as gold the dollar was defines as a weight unit for gold , since 1971 when Nexon suspended the convertibility the dollar has lost 80 percent of its purchasing power