Tuesday, June 8, 2010

Fleckenstein Wonders Why Gold Gets No Respect

Bill Fleckenstein is nobody's fool.  His Contrarian Chronicles are often an interesting read.  At the least, you can expect to see an original thought from time to time, and that's quite rare in my opinion.

Naturally I appreciated the following from Mr. Fleckenstein.
As an asset, gold has helped protect and deliver gains versus paper money for 10 years running, yet the popular media heap nothing but scorn on it.

So obvious, but also so vitally important and largely unmentioned by the hacks in the mainstream.  As if that weren't enough, he goes on to include this priceless gem.
I keep waiting for the day when folks realize that if you invest in the shares of a gold-mining company, you basically own a piece of the money-creation machine. It's sort of like owning a piece of a central bank that isn't staffed by losers.

This single article was worth the price of my subscription!


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