Home / Federal Reserve / Gold Skyrockets. Those Who Own No Gold Swear, “Next Time I’ll Buy. Really.”
Print Friendly and PDF

Gold Skyrockets. Those Who Own No Gold Swear, “Next Time I’ll Buy. Really.”

Written by Gary North on January 26, 2012

Once again, gold and silver have shown that they are headed up, up, up, despite brief downturns. You can follow gold’s price on my other site, GaryNorth.com. Click the link. Then save it.


I told subscribers to buy gold in October 2001, when it was around $280. I have told them to buy ever since. But some people will not buy. Why not? Because they recognize that owning gold and silver means losing faith in America’s government.

So, they say, “I’ll buy when it falls.” Well, we just had the fall. That is behind us. The “wait, wait, wait” people could have bought gold for $1,531 on December 29, 2011. They didn’t.

Now, once again, they will say, “I’ll wait for another downturn.”

They said that in early 2008. They said it last summer. They will say it when the supermarket shelves are empty.

Their utter foolishness, year after year, keeps prices down for the tiny minority who know what is going to happen to the dollar and who are willing to act on what they know.

How about you? Do you own gold bullion coins? Junk silver coins (pre-1964)?

Procrastination kills.

Do you believe Bernanke? Are you willing to bet your future on his assurances?

If you own no gold, your real answer is “yes.”

It’s time to choose: gold or Bernanke.

He who has ears to hear, let him hear.

Print Friendly and PDF

Posting Policy:
We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse. Read more.

6 thoughts on “Gold Skyrockets. Those Who Own No Gold Swear, “Next Time I’ll Buy. Really.”

  1. Tis Irish I Am says:

    Gold Higher-World Dangerous-Everybody Jazzed

    The Fed yesterday announced no interest rate hikes until late 2014.
    Last October that target date was mid-2013. The Fed just added 18 months
    to any possible recovery. What do they know that we don't?

    This means free dollars for the entire world as far as the eye can see,
    because the Fed has no intention of raising rates in 2014 either and
    everyone knows it.

    Gold and silver are straight up. Gold up 60 bucks in 3 hours Wednesday
    as the Fed kicked the can over the cliff. Lemmings are lining up.

    Low interest rates mean gold/silver go higher, because it means
    higher inflation, and no int'l confidence in paper money.
    I believe we've seen the lows in gold/silver for a long time.

    Here's an interview with Jim Sinclair, takes under one minute to read,
    and I think it's a must read. He says brand new mega-buyers not in the game will now pile on. This guy Sinclair is nobody to ignore. If you want to ignore someone, ignore the main media.

    For a collection of analysis from the top gold experts, see below and just click on
    the links. All are very short reads. If you explore, you'll see Eric Sprott refer to
    a report that India is now paying Iran for oil – in gold. That popped over the weekend. That is not confirmed (never will be, because they just don't make that stuff public) but it is widely believed to be true. The only newspaper to ask for comment is India Times. They got 'no comment.' If true, it is a milestone in the international oil/gold/currency game. It simply means the world's main reason for owning dollars, the purchase of oil, is crumbling.

    Some of you may be interested in knowing Libyan fashionista M. Ghadaffi made it known he wanted to be paid in gold (not dollars) for his oil and some believe that's why NATO whacked him. Had nothing to do with helping oppressed people wanting to be free. So, stow the violins and get real. For those still wondering, gold is the only money that matters to national governments. Because other nations cannot print it.

    Ghadaffi was last seen hanging in his local butcher's display case, and 119 tonnes of gold is unaccounted for. The Libyan government is now run by Al Queada. It all worked as planned.

    Iran has nothing to lose at this point. Their banks are frozen by sanctions and they hate dollars anyway. India has the gold, and needs the oil. Russia and China are watching Iran's
    back. The world just turned dangerous. Well, it has been dangerous all along. It's just that nobody really wanted to think about it.

    Gold and silver are going much, much higher. The average year over year for eleven years now is 20% total annual return.

    The fed just baked a minimum of three more years into that cake.

    Find my column, The Sound Money Journal, at the Baton Rouge Tea Party home page. http://www.batonrougeteaparty.net/Home/tabid/37/D… Comments and catcalls welcomed.

  2. this is what hugo chavez is attempting by repatriating all his gold, once its done IMHO he will then declare all oil must be paid for in gold only. venezuela will then be declared a terrorist state by the USA and seeing how sanctions will no longer work and all his assets cant be frozen because he will have them in country we will be forced to invade in order to save his ppl, get our oil and bring democracy to all of venezuela at the point of a gun
    this will bankrupt jp morgan as they show 10.6 tons of gold on deposit total and thats exactly how much chavez shows on deposit and with a 100 to 1 fractional loan rate all the gold paper they have sold will bring down the house

  3. Mike Breslin says:

    I don't think we'll put sanctions on Venezuela, because then we would not be able to buy their oil which we need. So short of an outright invasion (not ruling that out), we can't do jack to Hugo or his country.

  4. Blair Franconia, NH says:

    What if you don't own gold to begin with?

  5. Tax Cuts –
    If you don’t understand the Democrats’ version of tax cuts (and you are not alone), maybe this will help explain it:
    The Difference Between Republicans and Democrats

    A Republican and a Democrat were walking down the street when they came to a homeless person. The Republican gave the homeless person his business card and told him to come to his business for a job. He then took twenty dollars out of his pocket and gave it to the homeless person.

    The Democrat was very impressed, and when they came to another homeless person, he decided to help. He walked over to the homeless person and gave him directions to the welfare office. He then reached into the Republican’s pocket and got out twenty dollars. He kept $15 for administrative fees and gave the homeless person five.

    Now you understand the difference between Republicans & Democrats.

  6. Then you especially need to buy. I'm one of those people Gary North is talking about. I'm a subscriber to his site and have asked a couple of times when the right time to buy is and the answer was always "now" and I did nothing.

    I had the chance to buy gold at 4-5% over the spot price but I have waited for new gold at a store where I could get gold at the spot price. I have now paid a heavy heavy price. I can tell you I will buy gold now even if I might be able to get it cheaper another place…some day in the future. Don't make my mistake.