Don't let anyone tell you gold isn't golden

Gold has never been worth zero!

A rising gold price is God's little messenger, reminding us the money we save for the future is just fancy paper.

Since the 2008 crash, and our ongoing failure to pull out of it, most people should have a pretty clear idea about where gold is headed and why. I don't have to tell you it's going to be worth $2,000, $3,000, $5,000 or ultimately, two giant truckloads of canned food and ammunition, at the rate we're going. But perhaps you've been distracted by naysayers along the way.

Gold bashing over the past couple of years:

• "We had a bubble in gold fueled by exasperation and the inability to make money in stocks. Investors were hit by all the bubble sales pitches that suggested gold was a 'can't-lose proposition.'" — Brian Dolan, chief currency strategist for Gain Capital, in a March 1, 2009, Chicago Tribune article that was unfortunately headlined, "Gold gains unlikely to pan out for long."

Don't you just hate it when gold goes over $1,000, falls to nearly $700, and then soars past $1,800? Clearly, this gold bubble will pop once the Federal Reserve announces that the economic recovery has been a grand success and it can now raise interest rates. But when's that going to happen?

• "Gold is worth what you think it's worth. It's very difficult to value. There are no cash flows, so it has no intrinsic value. There is very little commercial use for it. It's more of a trading vehicle." — Bill Stone, chief investment strategist, PNC Wealth Management, in an Oct.9, 2010, New York Times article.

Yes, that's why they say gold is morphing into a currency while other currencies are morphing into stuff you haul around in wheelbarrows.

• "Attempting to project or capitalize on price movements in gold is speculation, not investing." — Steve Condon, director of investor advisory services for Truepoint Capital, in Cincinnati, in an Oct. 12, 2009, Associated Press article.

Got that? Buying gold is speculation. Buying paper, now that's investing.

• "Too many naive investors got involved in gold. They must be taken out and given a right good caning." — Dennis Gartman, a trader and publisher of the Gartman Letter investment newsletter, in a Dec. 8, 2009, Chicago Tribune article about "Newbie gold investors."

I would like to see them canned as well .. for making way too much money from the folly of the Fed.

• "It will move up, but the music always stops," — Quincy Krosby, market strategist for Prudential Financial, in a Dec. 29, 2009, article by the Associated Press.

As we learned this week, the music stops for a lot of investments. And when it does, it's nice to own gold.

• "Our bottom line is this: Gold is a bubble now, and it is too late to get in. It is like someone who bought real estate in 2006, at the height of that bubble. You could get hurt really badly." — Kimberly Sterling, Orlando, Fla. financial planner, in an April 2010 story by the Orlando Sentinel.

You know what else hurts? Not owning gold when it hits yet another new high.

• "Don't put your money on a simple rock. … It is 'fear metal' — you buy it when you are afraid of every other investment." — James Altucher, managing director of Formula Capital, in a July 12, 2010, blog post on The Wall Street Journal's website, wsj.com.

Hey, at least it's a pretty rock that has always been worth something! And the people are fearful. Very, very fearful.

DON'T LISTEN TO THESE IDIOTS.............OWN SOME GOLD!

LOOK FOR PULLBACKS AND START AVERAGING YOUR WAY IN.......... SILVER TOO!

UNTIL WE HAVE SANE SOLUTIONS AND LEADERSHIP, WE WILL HAVE 

INSANE PRECIOUS METAL AND HARD ASSET PRICES!