Sunday, December 13, 2009

Nouriel Roubini Buy Spam instead of Gold

Gold is a Bubble says Nouriel Roubini


Nouriel Roubini Blog
Keynesian, Roubini has an obvious disrespect for gold . "The New Bubble in the Barbarous Relic that Is Gold" Buy Spam rather than Gold said Roubini in his latest article , here is a snapshot :
In recent months gold prices have risen dramatically, first breaching the US$1000 barrier, then jumping another 20% in the past few weeks, surpassing US$1200 before correcting downward again to around US$1100. Some gold-bug bulls say the gold price could eclipse US$2000 in the next couple years. Is that possible? Is the recent rise of gold prices justified by fundamentals? An analysis of the facts suggests that a good part of this rise in gold prices is driven by a bubble.

4 comments:

Anonymous said...

If Roubini's a Keynesian, I don't believe anything he says.

themercurialworld said...

THIS IS A COMMENT FROM YORKY, EX-SHEEP SHEARER FROM THE OUTBACK OF AUSTRALIA:

Millions of very good and decent people have been slaughtered over the yellow metal,(ask the native indian).Gold has been used as a currency for thousands of years.

In the good old days, as they are called, the old war lords did not Rape, Pillage and Plunder for paper, plastic credit cards, and plastic blow up sex dolls, they wanted the real thing. I will swap anyone, a bucket of spam for a bucket of Gold at any time night or day (Do I have any takers).

We claim to be more intelligent than the societies from a bye-gone era. I wonder.

Let me leave you with an old story from my youth. At seven years of age I performed an action that my father thought was not really smart. These were the words he said to me. "If brains were gunpowder boy, you wouldn't have enough to blow your bloody hat off".That said I know the difference between worthless paper and 24KT GOLD!

Sam Wright said...

I'm surprised that Berlusconi ventured out into such a rowdy crowd; it seems like no major world leader should do that regardless of whether it's a "rally" or not

Anonymous said...

fiat currencies do not work. they all fail. gold always maintains value.

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