Richard Daughty

I waited until I had sobered up to re-read Agora Financial’s 5-Minute Forecast, where it reported that “Bill Clinton shocked us the other day when he came out and suggested the financial crisis would never have happened if the dollar was still tethered to gold.”

Notice that they used the word “shocked”, because that was when I realized that I was too blotto to be likewise “shocked” at such an admission, but was obviously too plastered to feel shock, much less have any sensation left in my lips or even feel myself drooling into my lap.

And speaking of shocking, Jim Willie CB of GoldenJackass.com wrote an essay titled “Shock Events & Gold Breakout” in a thorough, connected way, but without screaming his guts out in anger and fear, perhaps because his lips are also numb from trying to drown his outrage and fear with alcoholic excess, although he doesn’t admit it, he does admit that “public disgust and anger is growing fast” a fact to which he ascribes the notion that “The Tea Party movement has gained acceptance and vigor at the grassroots level” which is certainly true enough about me!

But this is not to talk about how “we, the People” referred to in the Constitution, are in the Tea Party, or how “we, the People” referred to in the Constitution who are in the Tea Party have the smarts to say we have had it Up To Here (UTH) with the Republican and the Democrat scumbags exceeding the 17 enumerated duties in the Constitution, allowed a fiat currency even though the Constitution requires money to be gold, and how, as a result, We’re Freaking Doomed (WFD).

But, wait! Perhaps it IS about that, as Mr. Willie says, “We are witnessing the end convulsions of the fiat paper monetary system. The currencies are all dying.”

As a result, he says, “Gold will rise until given proper recognition, then it will rise even more” a taste of which will be when gold reaches “$2000 in price within the next two years time” which comes out to a tidy 30% gain per year.

And it looks like other people have also come to the same conclusion, as a gold-buying fever is reported to be sweeping the world. Agora Financial’s 5-Minute Forecast reports that “The Austrian Mint has sold more Philharmonic coins in the last two weeks than it did in the entire first quarter of 2010” which seems entirely apropos for Austria, since the only true economic theory is called the Austrian school of economics!

Coincidence? Maybe. Gold going up in price, in a dead-bang certainty, for years and years to come? You betcha!

Perhaps Atimes.com put it best when summarizing one of my columns: “…when the idiots at the European Central Bank and the US Federal Reserve can press a button and produce a trillion dollars from thin air, who needs math? All you need is gold, and lots of it.”

And since nothing could be easier than buying gold, silver and oil when they are so absurdly cheap in an era of continual, catastrophic, crazy creation of more and more money, what can you say except, “Whee! This investing stuff is easy!”?

The Mogambo Guru
for The Daily Reckoning

Richard Daughty

Richard Daughty (Mogambo Guru) is general partner and COO for Smith Consultant Group, serving the financial and medical communities, and the writer/publisher of the Mogambo Guru economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron's, The Daily Reckoning , and other fine publications. For podcasts featuring the Mogambo, click here.

Recent Articles

In the Downdraft of Hormegeddon

Bill Bonner

The economist Milton Friedman didn’t go far enough when he said, “Concentrated power is not rendered harmless by the good intentions of those who create it.” Oftentimes, that power is rendered more harmful -- to the point of Hormegeddon -- the better the intentions behind it. In today's essay, Bill Bonner highlights the conditions necessary for popular delusions and the disasters they lead to. Read on...


Addison Wiggin
Health Care Costs: Still the Pig in the Federal Python

Addison Wiggin

Right now, health care makes up about 25% of the federal budget. A scary statistic to be sure... But here's an even scarier one: health care's portion of the federal budget doubles roughly every 20 years. Yikes! Addison Wiggin explains why this is and what needs to change to prevent health care from taking up half the federal budget. Read on...


Six Signs Your Government’s Too Big

Chris Campbell

Is your government too big? Find out in today’s Laissez Faire Today with six “red flags” to look out for. Chris Campbell covers everything from one ObamaCare whistleblower to the strange case of our new Ebola czar. Read on…


McDisaster: Fast Food Is Dying – Make a Killing From It…

Greg Guenthner

McDonalds stock is getting crushed right now. Shares have been in a tailspin since June. But it’s not just Mickey Dee’s. Coca Cola shares are in freefall, too. Bad news for them. But if you want to rake in a pile of easy money, it could be great news for you. See, Americans just aren’t choking down this junk like they used to. The fast food burger, fries and a Coke are just down payments on an early coronary - and Type II diabetes. And everyone’s finally gotten the message. So how can you play the trend? Greg Guenthner explains…


In the Year 2024

James Rickards

Panopticon goggles? Severe market panic in 2018? Gold confiscation by 2020? Jim Rickards' shocking thought-piece in the spirit of A Brave New World or 1984. Click to see how markets, economics, your money, gold, privacy, wealth building and more look a decade from now in the year 2024...