Thursday, Oct 27th

Last update05:20:13 AM GMT

You are here News Editorials Prairie2: The value of canned goods has collapsed?

Prairie2: The value of canned goods has collapsed?

E-mail Print PDF

GoldGold closed at $1355/oz today, nearly $600/oz below its peak less than two years ago. I said then, sell, sell. Man did I get the mail from the gold bugs. I was just crazy, hyper-inflation was going to happen any minute, the USD would be worthless, and gold would be $10,000/oz within months.

The pundits are blaming gold's collapse on reduced growth in China, as if 8% annual growth was bad. As I recall the imminent collapse of the Chinese economy was one of the compelling reasons to buy Glenn Beck's gold.

The race to the bottom is being driven by margin calls since gold is nothing but another commodity. In fact, the panic is driving down all commodities and stocks as well as investors try to get into a 'liquid' position. As in, floating on top and not drowning.


Most Recent Related Stories...

Bob Alexander: Quién es Más Loco? … Or … Say Goodnight Gracie Part IV

Loco TrumpAfter watching the third and final debate between Donald Trump and Hillary Clinton I agree with...

Bob Alexander: Say Goodnight Gracie Part II

Monster caterpillarLast month looking South I saw another bad day brewing. Not surprising. It was preceded by...

Bob Alexander: Say Goodnight Gracie Part III

Trump clownIt appears that unless the Universe has a couple of extra tricks up its sleeve, we're...

Alex Baer: The Excellence of Less

El-cap-oIt was a complete surprise when I got word from the Trump campaign that I had...
America's # 1 Enemy
Tee Shirt
& Help Support!
TVNL Tee Shirt
Conserve our Planet
& Help Support!
Get your 9/11 & Media
Deception Dollars
& Help Support!
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!