GOLD is the money of the KINGS, SILVER is the money of the GENTLEMEN, BARTER is the money of the PEASANTS, but DEBT is the money of the SLAVES!!!

Thursday, October 16, 2014

Vince Lanci Responds to Nouriel Roubini’s Bearish Gold Forecast – Kitco News

Vince Lanci is back to talk to Kitco News about Nouriel Roubini's recent bearish gold predictions on this edition of "Reset." Lanci says that the current market structure keeps the price of gold down although Basel III was intended to change that. While Lanci respects Roubini's opinion, he says that it is impossible for anyone to know where gold is headed. Financial products that are used as hedges against calamity are typically the first ones sold during that calamity, he adds. People are getting out of gold now because there is a need for liquidity and because other investments are yielding higher returns. Is there a chance for a gold standard? Lanci states that Roubini is wrong to say that we will not return to some form of physical asset standard because fiat money cannot stand alone. Kitco News, June 5, 2013.

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