{"id":14367,"date":"2013-06-27T14:47:06","date_gmt":"2013-06-27T21:47:06","guid":{"rendered":"http:\/\/www.itmtrading.com\/?p=14367"},"modified":"2013-06-27T14:47:06","modified_gmt":"2013-06-27T21:47:06","slug":"physical-gold","status":"publish","type":"post","link":"https:\/\/www.itmtrading.com\/blog\/physical-gold\/","title":{"rendered":"Physical Gold"},"content":{"rendered":"

In an interview, Ron Paul, who until recently was a Congressman and presidential candidate, had a few comments on the value of the Dollar and the future price of gold<\/a>.<\/p>\n

\u00e2\u20ac\u0153Eventually, if we\u00e2\u20ac\u2122re not careful, it will go to infinity, because the dollar will collapse totally,\u00e2\u20ac\u009d Paul stated on CNBC.com\u00e2\u20ac\u2122s \u00e2\u20ac\u0153Futures Now.\u00e2\u20ac\u009d<\/p>\n

According to Mr. Paul, \u00e2\u20ac\u0153As long as we have excessive spending, and excessive computerized money, we are going to see gold go up,\u00e2\u20ac\u009d this, he reasons, will result from the value of the Dollar being driven down. The more Dollars that are created out of thin air, the less valuable each Dollar becomes, and the more that happens, in the long term, the more Dollars it will take to purchase anything including an ounce of gold, as long as the price of gold is measured in Dollars.<\/p>\n

Continuing down this road of reasoning, Mr. Paul goes on to its logical conclusion; If monetary expenditures\/easing from Washington and Federal Reserve results in ruining the U.S. economy and collapsing the Dollar, then the price of gold expressed in Dollars would be \u00e2\u20ac\u0153infinity.\u00e2\u20ac\u009d<\/p>\n

It is because of these macro forces and long term outlook that the current short term gold action does not trouble Mr. Paul. As George Bernard Shaw once said, \u00e2\u20ac\u0153You have to choose between trusting to the natural stability of gold and the natural stability of the honesty and intelligence of the members of the government. And, with due respect to these gentlemen, I advise you, as long as the capitalist system lasts, to vote for gold.\u00e2\u20ac\u009d <\/p>\n

\u00e2\u20ac\u0153Markets do these types of things\u00e2\u20ac\u201dthey go up sharply, and sometimes they take a rest,\u00e2\u20ac\u009d Paul remarked. \u00e2\u20ac\u0153I was never very good on short term, whether it\u00e2\u20ac\u2122s the stock market, or whatever. But if you look at the record of the value of the Dollar since the Fed\u00e2\u20ac\u2122s been in existence, we have about a 2-cent Dollar. And gold used to be $20 an ounce. So I\u00e2\u20ac\u2122d say the record is rather clear on the side of commodity money.\u00e2\u20ac\u009d<\/p>\n

\u00e2\u20ac\u0153Six thousand years of history shows that gold always retains value,\u00e2\u20ac\u009d Paul noted, \u00e2\u20ac\u0153and paper always self-destructs.\u00e2\u20ac\u009d<\/p>\n

The demise of the U.S. Dollar would translate into a real bad day for just about everyone. The point Mr. Paul likes to draw a line under is, people who trade Dollars for gold will be very glad they did while it is still a possibility.<\/p>\n

At ITM Trading, we would be pleased to share our perspective and market knowledge as well as the benefits of owning gold. Please feel free to call us at 1 888 OWN GOLD (1 888 696 4653).<\/p>\n","protected":false},"excerpt":{"rendered":"

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