Gold Video of the Day: Gold to $10,000? – Nick Barisheff

“If anything, we’ve got a bubble in financial assets rather than a bubble in gold”. 

With those words, Nick Barisheff enters that hallowed virtual hall of electrons, GIC’s Particularly Smart file (scroll right and down).

We have long turned the pejorative “Gold Bug” around on those worshipers of the notion that giving money to strangers for use in their businesses, in the hope of receiving a greater sum back is, ipso facto, a smart idea. We call these miserable creatures (unimaginatively) “Stock Bugs”.

Nick’s contends that if the value of all bullion is about $3 trillion, give or take, and the value of all paper assets is about $200 trillion, how could gold be the bubble? The answer to that is, of course, that there’s a lot less gold extant than dubious business models hankering for financing with someone else’s money. 

But Nick also points out virtually the same point that we danced around only yesterday: what happens when the big money snaps out of its Keynesian trance and starts buying gold with both hands? Gold goes up, that’s what happens.

Nick and Jim Puplava also chitchat about the ongoing gold debates over paper v physical, silver v gold, currency or commodity, etc. A worthwhile use of your next 15 minutes! 

Congratulations on your proud moment, Nick!