Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”
Paul informed the MSM host why the long term case for gold remains intact (while Jackie DeAngelis stated gold’s 8% performance year to date is disappointing):
“Timing is the only thing.   I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end.   And then a thousand dollars, so; no, it’s good as long as we continues to do this [print money] , you know, it could go to infinity because when people just leave the dollar, who knows what.” 


From Goldcore:

Today’s AM fix was USD 1,297.50, EUR 968.43 and GBP 766.21 per ounce.
Yesterday’s AM fix was USD 1,307.50, EUR  972.84  and GBP 770.39  per ounce.

Gold fell $4.50 or 0.34% yesterday to $1,300.60/oz and silver slipped $0.02 or 0.1% to $20.60/oz.

Silver for immediate delivery rose 0.2%  to $20.61 an ounce in London. Platinum was 0.2% higher at $1,485 an ounce. Palladium gained 0.2% to $882/oz and appears to be consolidating close to a 13 year nominal high of $889.75.

Gold is flat in London this morning after gold in Singapore was also tethered to the $1,300/oz level overnight. Futures trading volume declined after recent increases and was 31% below the average of the last 100 days, Bloomberg data shows.


Gold in U.S. Dollars – 50, 100, 200  Simple Moving Averages (Thomson Reuters)

Gold is testing support at the 100 day simple moving average at $1,299 currently and below that there is support at the 50 and 200 daily moving averages at $1,294/oz and $1,285/oz respectively.

Premiums for gold bars in India have fallen again due to lacklustre demand in India. Premiums in top buyer China were steady at about $2 to $3 an ounce. Middle Eastern demand may have picked up due to geopolitical risk and the festival of Eid is seeing another mini gold rush for jewellery in the Middle East as lower prices attracts buying.

Geopolitical risk remains very high but has not been reflected in precious metal prices as of yet.

The Middle East remains a powder keg as increasingly are relations between the U.S., the EU and Russia.

Hamas ruled out a truce in the Gaza Strip until Israel lifts its blockade and bombing of the Palestinian territory, as the Israeli military’s bombing of Gaza intensified.

The U.S. and European Union sought to put more pressure on Russia by targeting banking, energy and defense industries. These measures appear to be an attempt to cripple the Russian banking sector and economy and will likely be met with retaliation from Russia.

We appear to be on the cusp of a full blown economic war and economic wars tend to be the forerunner of actual war. Given the nuclear capabilities of both sides, politicians would be better suited calling for calm and negotiations rather than constant escalation.

If the Russian banking system is crippled, a Russian response could include cyber war targeting western banks and market exchanges including stock markets. A cyber and financial war poses real risks to western investors and indeed savers that is as of yet not appreciated.

“Gold Could Go To Infinity” – Ron Paul

Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”

Former U.S. Representative Dr Ron Paul told CNBC’s Jackie DeAngelis and the Futures Now Traders that the long-term case for gold remains firmly intact.

Dr Ron Paul:

“Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it’s good as long as we continues to do this <print money> , you know, it could go to infinity because when people just leave the dollar, who knows what …”

“But that won’t happen if we finally wake up and do something.  But if we can keep this together, if the money managers can keep it together and it doesn’t collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it’s up a hundred dollars for this year so…”

Jackie DeAngelis:

“It’s roughly I think up 8% year-to-date. It’s not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we’re seeing in terms of the geopolitical situation. A lot of conflict around the world — you’d expect gold to be higher right now.”

Ron Paul:

“Yeah, but if you understand the subjective theory of value, you don’t get too concerned about that because, yes, increasing the money supply weakens the dollar and a weaker dollar raises the price of gold and it’s a long term measurement. But you can’t measure, you can’t say that the money supply went up a certain amount, and gold is going to go up, so there’s a subjective element in that.”

“But long term…and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency.”

But you don’t, I don’t get in the business of saying in a year or two or three it’s going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions.”

The interview about gold can be watched below:

In another interview with CNBC, Dr Paul reaffirmed his view that the nation’s monetary and fiscal policies would result in massive inflation. He warned of a stock market crash and of the risk that currency debasement will lead to the continuing devaluation of the dollar.

Ron Paul has long said America should “end the Fed,” and he made that case once again on Tuesday.

** Record Low Gold Bar (1 oz) Premiums **

“One thing you have to do is get rid of the Fed, because of the Fed “spin” that leads to volatility in markets. Referring to the statements and spin by Federal Reserve governors, now Janet Yellen, he said that in fact  it is a “very inefficient way to operate a market, to have one individual make one statement, and put so much weight on it.”

“In short term, it’s very, very real, because people are going to make it or break it, you know, on this interpretation. But that has nothing to do with the free market, nothing to do with building capitalism, and savings, and the things necessary to have a growing economy.”

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  1. http://video.foxnews.com/v/3705506247001/hamas-founders-son-speaks-out-against-terrorist-group/#sp=show-clips

    This member of the “Khazar Zionist Rothschild blood-drinking Arab baby-killing syndicate” (uh, woops, well, Mosab Hassan Yusuf, son of Hamas’ founder) explains his views on Hamas and Israel’s war against them.
    Interesting what Yusuf’s views are, having grown up in the West Bank as a Hamas activist.
    He rejected Islam and is now a born-again Christian :D

  2. I can totally see the shiny going to infinity.  It already started going to infinity today.  Think about it, infinity sign is like two zeros sitting right next to each other.  So, there you have it – zero for golt and zero for silbert.
     
    Dream on, comrades!

  3. I guess ol’ Ron lives in Colorado now because it sounds like he’s been smoking the ganja big time!!!
     
     
    Yes, Au and Ag to infinity.  Sure thing.  And beyond??
     
    Also, when I go to my LCS, exactly how is infinity printed on the check they give me for my now (essentially) priceless Ag?
     
    Take it a step further – and ‘infinity’ makes Au and Ag worthless because how does one make change for infinity?  If it’s infinite, that means I can buy an entire city block, or heck – just the whole city, for some gold?
     
    I guess I’m missing the point.

    Meanwhile….Ag DROPS to about 20.50.

  4. Ron Paul has been correct about 98% of his predictions, I see no reason that he would be wrong on this call. If we had heeded his words in 2008, we wouldn’t be where we are right now….we would be on the mend economically for real, not the fictitious recovery that the MSM portrays. We had our chance twice to elect him and he would have likely won had the media not crushed him under orders from above. The powers would not allow him to become president because he doesn’t play their game. Presidents are selected, not elected.

    • Which is probably a good thing for those of us who care for Dr. Paul.  Frisky presidents tend to get dead when crossing the banksters.
       
      The only way that could work would be if a new president went on the offensive and had all of the banksters arrested at the same time, investigated, and jailed for crimes against the American people.  But, like cockroaches, he would need to get them all.  Any that are missed WILL breed back to their original numbers quite quickly.
       

  5. Dear Ron Paul,
     
    Yes, it is obvious that you are now selling Gold and Silver. Can you please tell me where you wish for me to send my money?  And yes, I will tell all my friends and others on Silverdoctors that your new business is up and running!
     
    Thank you for your attention regarding this matter.
     
    Yours truuuuly,
     
    RedPill-

  6. The only way for silver and gold to go to infinity is for all fiat currencies to go to zero.  While this COULD happen, it seems extremely unlikely.  Since our resources, including time, are limited, we would all be better off to expend our resources in a miserly fashion, which is to say on the things MOST likely to happen.

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