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Sports, Politics, Financial Markets, Silver & More

A Nobody Buys Gold

This is from a random every day Joe in the United Kingdom, writing about the sudden economic troubles and his response in the gold market…a simple, common sense reaction to the events of the last 28 months.

“I am just another nobody, who wanted to know why the UK banks were all failing and why my tiny life savings were earning no interest anymore. I didn’t even know what ‘sub-prime’ meant. So I read up on the internet and discovered how our bankers and politicians have been playing with money like gambling addicts; throwing debt and credit cards at even the unemployed for years! I discovered how the Fed hasn’t had an independent audit since 1951 and is run like a private club. I watched J.P. Morgan and Goldman Sachs make big profits out of all the hand outs they have been given, for FAILING. I learned why Gordon Brown sold off half of the UK’s gold reserves for next to nothing. So, I’m sitting here in my damp, rented farm cottage and I know nothing about investing in stocks and shares, so I buy myself some gold coins. If I am doing that – with no background at all in Markets – then how many other folk are doing it? Quite a few I would think (like all those Chinese people who have worked their butts off producing cheap goods for the spoilt, lazy West). Anyone who understands what ‘Quantitative Easing’ means is not going to hang on to cash savings! Even if gold does drop down, I’d rather lose my money in gold than see it become worthless confetti due to the mad money printing going on. So, I am the real answer to why gold is going up, i.e. one of the millions of nobodies who has had to wise up and put their faith in gold and silver instead of any fiat currency…”

From a self titled “nobody” in the U.K.

 

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