An English gold bug mate used to swear by The Economist buy signal for Gold. Basically whenever The Economist magazine would publish a hit story on gold, he reckoned the gold price would rise on average a $100/oz within in several weeks. But now what are we to use as a buy signal? The Bernanke saying "Gold is not Money"? or Ron Paul casting out bankster vampires with his silver round?
The following interview with Matthew Bishop, the New York bureau chief for The Economist magazine, and The Wall Street Journal has him advocating gold
ownership as a defense against currency devaluation. He even dares to say the heretical statement that government backed "money" is fiat!
I love the 6:04 mark where you can see a pic of BS Bernanke on a screen behind Matthew Bishop's left shoulder frowning at him whilst he is explaining that gold is safe as fiat money is subject to government breaking its promises.
On his prediction of future gold prices, wow don't stick your neck out mate "um gold will be higher by the end of the year and higher in 5 years time" - gee you think so Sherlock? Last time I was on national TV I managed to get out a prediction of $5,000/oz and just managed to squeeze in "but it could go to $10,000 - $15,000 if....." as Channel Nine faded me out to go to talk to Peter Fitzsimons, oh the shame of being passed over to go speak to someone about sport :'-(
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