Money Magazine Trashes Gold

Time will tell if the author of the Money Magazine article below is right.  I suspect he will look pretty foolish in the not too distant future.  I tend to agree with this statement made by a wise observer:

“Betting against gold is the same as betting on governments. He who bets on governments and government money bets against 6,000 years of recorded human history.” – Gary North

Money Magazine Article:

Coming down with gold fever
By Stephen GandelJanuary 7, 2010: 6:12 AM ET

(Money Magazine) — At Harrod’s department store in London, you can pick up a South African Krugerrand or a 27-pound gold bar along with a sweater and bed linens. Gold is sold like candy out of train station vending machines in Germany. Indian households are borrowing against jewelry the way Americans did not so long ago against their homes. And U.S. investors poured $15 billion into gold funds in 2009, as they were pulling money out of stock portfolios.

Once of interest mainly to central bankers, Swiss jewelers, and folks who are convinced the Trilateral Commission runs the planet, gold is now the world’s “it” investment. The question for you: If you buy now, are you getting in on the precious-metal equivalent of Microsoft and Intel circa 1986, or a Miami condo circa 2007?


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