40 Years After Gold Standard, Bugs Crow
Source: Reuters, Jan Harvey (8/11/11)
"Gold is back, for good."
Gold, and only gold, will be our salvation when the value of companies, banks, countries and even money itself melts away. Gold, not shifting currencies, is the foundation of wealth and security. Gold is back, for good.
This is the song of the "gold bugs"the fervent fans of the precious metal who have clung to its investment value for three generations and now glow in the reflected luster of a record price approaching $2,000 for just one ounce.
Monday will mark the 40th anniversary of the United States' abandonment of the gold standard. But gold bugs kept the faitheven when prices stayed under $500 for nearly 25 years after their 1981 peak. . .View full article