Tuesday, 31 July 2018

Gold, for those who don't read Kipling......................from Rico

There are a lot of "investors" and "investment managers" who do not read, or even know, of Rudyard Kipling.
- They were indoctrinated by the gospel of Maya Angelou (C) and Maynard Keynes, instead of educated by Mises.
Kipling's poem IF has a lot to say to them. To all of us:
"If you can keep your head when all about you
Are losing theirs..." 
After a period of open and brazen fraud and price suppression (of an unprecedented scale and scope) in the bullion markets, behemoth Vanguard has thrown in the towel on Gold [read: 'lost it's head"].
- Hmmm. What does that mean? Are the Chinese, Russians, Indians and other non-Western Central Banks who are actively buying physical bullion all stupid, or what?
My personal best guess is NO, they are not all stupid.
- This may be a contrarian indicator, and Fred Hickey is "on" to something when he compares Schwab's telling investors to buy Gold after a 160% rise being a kiss of death, to Vanguard's walking away from Gold being like CPR (which has been moving sideways) signaling another rise in Gold.
Since I'm badly quoting people today, let's paraphrase Meyer Amschel Rothschild:
"Buy when everyone runs away. Sell when everyone wants to own it."

1 comment:

Lola said...

It isn't so much that the gold price has gone it's more that the value of fiat currencies have gone down