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Jim Cook

 

RUNAWAY SOCIAL SYMPATHY

Every once in a while I switch the TV channel from Fox to CNBC to see what the liberals are saying.  After listening awhile I get a deep sense of hopelessness and foreboding for our country.  The most important thing for the left is giving money to people.  They are happy to see the growth of food stamps, disability payments, housing subsidies, free healthcare and all the other welfare benefits.  They utterly fail to see the damage it is doing to the recipients.  Whole cities that once flourished have deteriorated into rotting eyesores populated with shambling hulks of chemically dependent drones.  These people are no longer employable.  They have become incompetent and helpless and the liberals can’t see that it’s their doing.

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The Best of Jim Cook Archive

 

Condensed Articles

June 22, 2016

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TO THOSE WHOM SLAM GOLD

By Graham Summers

(condensed)

Gold is perhaps the most maligned asset class in the world. [Silver isn’t far behind.] On an almost weekly basis the financial media mocks gold – and publishes articles claiming it is a terrible investment. It’s rather odd, as less than 1% of investors actually own gold. Why is it so important to trash an asset class that almost no one actually owns? Actually, forget that question, I’d like to see answers to these questions instead. If owning gold is such a bad idea, why are central banks buying it? Why do we rank countries based on the gold reserves they own?

If the goal for central banks is to generate inflation, why is owning gold stupid? Central banks are concentrating on inflation. The reason for this is because they’ve finally come clean that their primary concern is the bond bubble, not the real economy. Gold is perhaps the best inflation hedge in the world. During the last inflationary binge in the ‘70s it staged one of the biggest bull markets in history.  So, with central banks pushing for inflation, and inflation turning up in the U.S., why is owning gold a mistake?