Mr. Harmston is not interested in hearing my “The Federal Reserve is evil and so is the Supreme Court” rant again, especially since it is all I ever rant about, but goes on to reveal that, “The same ounce of gold still buys approximately 350 loaves of bread today.”
February 24th, 2009 | Mogambo Guru | 1 comment | ContinuedAll Posts Tagged With: "bullion"
Lull in Gold Price Shouldn’t Deter Bullion Buyers
A little less than 12 months ago, the world’s biggest financial players suddenly found they could not turn some $1.3 trillion of their assets into cash. These assets – bonds backed by US home-buyers with low (or no) incomes – had become utterly illiquid. No one would buy or lend against them, not at any price. And an asset you can’t sell or borrow against is worth precisely nothing. The resulting mayhem? It would have sounded frivolous two years ago.
May 13th, 2008 | Adrian Ash | 1 comment | Continued