What's the big Gold push about?

Question

I've lived through many boogeymen:

1980's: the Japanese were supposedly buying up the USA (not true)

1990's: urban crime was going to destroy cities (crime was actually going down)

2000: Y2K was going to make all the computers crash (didn't happen)

2000's: Saddam and Iran had WMD and was a threat to our 'way of life' (not)

So now, I'm supposed to be scared of the US economy imploding and buy gold.

It sounds more like an orchestrated pump and dump tactic...and it seems like the dump part is about to happen.

So why should I buy gold?

Answer 1

Why you should buy gold, it is ante inflationary and it would not hurt your portfolio .I ask you do you trust the dollar, or comes to that any paper money?

Considering the extent of the oil price decline, gold has remained very resilient as we predicted. Big money interests realize that the long term gold/ oil ratio favors higher gold prices and or lower oil prices. Forbes reported that George Soros has gone long gold and short oil. http://www.forbes.com/).  The articles states the ratio is 10 to 1 when in fact it is 15 to 1 which would see a gold price at 15 times the price of oil.

Were oil to fall further that could see oil at some $120 a barrel and gold at some $1,800 per ounce which seems extremely likely given the level of macroeconomic and systemic risk - unprecedented in modern financial and economic history.