Gold Back in the News


The Price of Gold is Back in the News


When I visited the world famous, incredibly huge GUM department store opposite the Kremlin in Moscow in November, 1991, as the Soviet Union came apart, there were virtually no goods on the shelves (GUM had been one place where the Soviet elites could find luxury import goods). Those Russians must be fools!

The ONLY thing that you could buy in GUM was gold. Gold necklaces, gold earrings, gold bracelets, pins, brooches, crosses, chains and NOTHING else.

And I thought it was not cheap, either. [Note from my future self: at $400/oz gold was about as cheap as it would ever be!]


So what is happening to the price of gold now? Are we entering another era of an escalating gold price? Is America about to experience the economic collapse the led to the end of the USSR? Will Americans find that gold is the only stable value during an era of currency chaos?

As we pass the mid point of the second decade of the new century and millennium, the economic verities of the past seem less and less secure. Can you eat your gold? Can you eat without gold?

More about that here:

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