Saturday, June 4, 2011

A Mainstream Reporter Confesses about His View on Gold

I find the below comment absolutely amazing, when you consider that over roughly the last 10 years gold has climbed from $250 to $1,500 an ounce, and at the same time the mainstream economists running the country have driven the economy into one of the worst recessions in history, where millions have lost homes, millions have lost jobs and some both, while at the same time Wall Street elitists have been bailed out to the tune of hundreds of billions.

 LaTi reporter Paul Whitefield, somehow, is not able to make any connections and writes:
There are two things I know for sure: One, I'm not an economist; and two, gold coins are really cool...

First, what I know about gold currency comes from a chance encounter decades ago, when I was a young business reporter in Hawaii. As part of a story on gold coins, I visited a dealer, who brought out a stack of South African Krugerrands.
Talk about gold fever: I became an instant '49er. The glint of the metal, the sheer heft of the coin -– I was transfixed.

That lust for gold, however, did not translate into a lust for the gold standard. Why? Because...I actually believe the people on this Earth who are economists.


  1. I noticed this also. The author's ignorance of how gold standards work made my ears bleed.

  2. Believing experts is one of the worst habits a person can have. Just think how it would be if everyone believed everything experts told them. Any person who has ever contributed anything to human knowledge at one time conflicted with the experts. It takes a questioning and skeptical nature to make any progress at all.

  3. I don't know who this guy is so I am not sure what is so relevant about his opinion especially given the fact he states he does not understand economics. His statement at the end is really illogical/stupid since he obviously must beleive some economists over others, since some do support a gold standard (not just the Austrian's) while others do not. The question this moron needs to ask himself is on what basis does he choose to beleive some and not others.

    His thinking also demonstrates much of what's wrong in society today which is intellectual laziness.

  4. Typical mainstream misinformation. What else is new.