RTE Primetime: Gold Rush – Is Gold in a bubble?
One World Chronicle.com
We write this article to review the last RTE Prime Time about the Gold Rush from 13th December 2012 – @ 25 mins and 50 seconds.
The show can be viewed here: http://www.rte.ie/news/player/prime-time/
In the report the question was asked: Are we in a golden bubble? And the answer was Yes and the conclusion of the report is that gold is in a bubble and the price of gold will fall dramatically.
The interviewed persons were:
Stephen Flood – Director of Gold Core.
He explained the historical context of gold and what it does in an accurate way to the interviewer. Comparing also the price of gold in oil and the overall money mass and concluding gold responds to inflation.
Tony Foley – Dublin Business School
Said Gold contributes to nothing, it does not help a business getting new equipment. Quite the contrary – it costs in the sense of security.
Conor Pope – Journalist of the Irish Times
Sees gold is in a bubble, comparing the 1980 gold high and after the crash it took almost two decades for gold to recover.
One World Chronicle comment:
Well. Let’s start with the facts that were generously overlooked in the report:
1) Paper-currencies, such as the Euro and US-Dollar historically have always failed. No exception.
(Source: This time its different – Eight centuries of financial folly)
2) The gold price suppression from Central Banks from 1980 until now
3) China and India are the biggest net-buyers of gold. Not Kazakstan or Brazil. They are on the list of net-buyers as well, but let’s not forget China with their 937 tons of phyiscal buying this year and their 4,000 tons of paper gold contracts on the NY Comex.
If you weigh all the info out to get to a balanced view on gold – as we do here on a daily basis; you may come to a different conclusion. Keep in mind that gold has always protected people’s wealth but also that assets move in cycles. Stefan Kramer – Director of CelticGold said in Dublin on November 6th at the Gerald Celente talk: No asset keeps on rising forever and everyone should have an exit strategy.
(Read also: The Gold Bulletin Page 4: To where will the gold price go from here)
The real value of gold is to be viewed at $3,500 per Ounce and above. And this quote comes from the Mr. Gold in person: Jim Sinclaire as you may have read here before. His website is www.jsmineset.com
Our conclusion is:
Keep educating yourself on the internet where you find true information and don’t let yourself be guided by fear – question information that is unbalanced and obviously comes from people that don’t have a clue what they are talking about. Build a true view and be strong. The RTE PrimeTime report can only be viewed as fear tactics trying to send you in the wrong direction.
2012-12-17 19:41:32
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