It's like the calm before the storm. Not much lately is being said about gold. The anti-gold crowd is mostly quiet as the gold price has been hovering the last couple months just above the $1700 an ounce mark. Do they know something? Maybe they agree, gold prices are about to explode but they need to put some time between their claim that the gold rally is over and the imminent explosion in price.
The gold bugs are only slightly more vocal as the Euro-Crisis unfolds. Even the announcement by our Fed that it was going to join with five other world banks to print money to facilitate a currency swap with Europe, got barely a whisper from the major news sources. That should be the only proof anyone needs to get gold and get it now but somehow the news never struck a nerve.
And when Treasury Secretary Geithner, announced that this Fed move was not going to come at the expense of taxpayers, and that, Americans will not get hurt, it's as though everyone just shrugged their shoulders and said whew!
So let me get this straight. The Fed can print money to bail out Europe without putting the American taxpayer at risk. But if there is no risk, why can't they just print money to bail us out?
Are we really that dumb to believe all this nonsense?
Meanwhile -- while we sit on our hands waiting for everything to just get better, what are the central banks of the world doing? Guess what? They're buying gold and doing so by the tonne. From a recent WSJ article, Total central-bank gold purchases in the third quarter more than doubled from the second quarter and were almost seven times higher than a year earlier as countries continued to diversify reserves, according to a World Gold Council report.
You tell me! If there is no risk to printing money why does a central bank - any central bank - need to buy gold? Herein lies the single best reason to own gold. Real wealth can't be printed on paper. So, go ahead! I dare you. Visit LearCapital.com and check out our online pricing for gold. Then get some.