Before making such uninformed statements like:

“government must be holding up the value”

You need to do some research about how the government is SUPPRESSING the price. Even Alan Greenspan stated that the central banks stand ready to sell gold into the market to keep the price down.

You can start on http://www.GATA.org or http://www.lemetropolecafe.com/

But really, such comments from someone as smart as you, is not fitting.

You hold your stocks, bonds and dollars… I’ll GLADLY hold my silver and gold.

The economy will crash (actually already has… effective 18% unemployment), the dollar will become worth less (well on its way NOW), and virtually all stocks will go to ZERO (most likely starting the next down phase now). So worst case scenario, gold drops LESS than everything else and your gold (and I mean physical gold in you hand) will still be WAY AHEAD in value of most everything else. Gold is PAYMENT IN FULL.

Gold is not an IOU like fiat currencies, Gold is an international currency. Gold is and has always been highly LIQUID.

Everyone should PROTECT themselves NOW. The next big move up in gold is right around the corner. By the end of this year (2009) gold will most likely have a MUCH HIGHER value.

What do you think will happen to the money supply as the perfect storm that has ALREADY OCCURRED passes overhead? Unemployment skyrocketing, tax receipts cratering, businesses bankrupting. The money supply has gone ballistic ALREADY!!! What do you think will happen in the months ahead when unemployment funds run DRY, tax receipts become a trickle, entire states default and the few people left with productive jobs give the government the FINGER when asked to pay their taxes.

Its a JOKE, but its NOT very FUNNY. In fact, I do NOT hear anyone laughing where I’m standing!

P.S. The bankers and financial MASTERS need to be hung like they were in the crash of 1890!

I will take my chances. Last time you will see any of my money in the market. I lost too much.

Well, Progressive Western Man has failed to deliver, BIG TIME. Everyone, including you, is asking, where can I put my savings in case I lose my job or just want to retire??? When economic activity is completely stalled, due to government attempts to fix everything, it is going to become plainer than the nose on my face that gold is money. Silver is money. The day for theories and economic prizes is over. Now, all the world knows, even progressive inventive Western Man has to have an anchor.

Peter Schiff is exactly right, IMO, when he says the bottom will be when the DOW = 1 oz gold. That will be the anchor, a re-setting of the economy from which all assets great and otherwise will be priced.

I usually love your commentary, but I have to respectfully disagree. Let me give you some bullet points:

1. There is more of an outcry for the abandoning of the dollar as the leading currency. Russia is now trading China in Rubles for oil. Russia is the biggest oil supplier in the world. China, who is our biggest debt holder, is raising concerns on the state of the US. China has formed a stronger partnership with Brazil verses the US on currency issues. China & Russia are also building up their gold reserves. They are even approaching the IMF for additional gold resources.

2. Gold has been in a consistent uptrend for the past 9 yrs. The US is also losing control of its currency. Since 1972, when the dollar was taken off the gold standard, our currency has greatly devalued. Add in the US budget deficit, bailouts, etc., Hyperinflation is inevitable. Take a look at the history of the German Mark. The same situation could happen to the US.

3. Northwestern Mutual Life Insurance Company makes the first gold purchase in 152 years.

4. Gold/Siver has been used for financial stability since the beginning of time. You can even refer to the Bible (Abraham – Genesis).

I would hate to see you or anyone else lose their lifetime savings if the dollar has no value. I recommend that you hold on to some precious medals reserves. I know that you are getting several inquiries about your position. If you can, please address this subject on HH tonight to let your viewers know.

I recommend that you consider taking a look at a recent and comprehensive analysis of inflation by Mark Lundeen at http://www.gold-eagle.com/editorials_08/lundeen061309.html on the web. His charting, historical overview, and analysis of current trends and government policy is far more comprehensive than what you presented here.

Cody, I typically enjoy your commentary (though sometimes you get wild and incoherent), but I think you are getting overworked and loosing sight of the forest for a single tree. Based on a dollar to “reported” gold in storage ratio ALONE here in the USA, gold could easily be trading in the $3000-$4000 range NOW (and possibly higher) if it were not for “Plunge Protection Team” interventions in the precious metals markets. Check Mark’s analysis and graphs, and look at the history.

The “Greatest Depression” is soon to come…regrettably. May those who created this mess and the suffering that will soon occur, be held accountable here on earth. (Though, as a Christian, I I have no question that they certainly will be held accountable in the Final Judgement… unless they come clean beforehand).

-Rich Vermillion

It also predicts that the near future trading will not occur on fundamentals such as supply and demand. It will be based on who has the deepest pockets, the largest bet or the best public relations team.

If we could, the best case for the investor is to pool resources and “make” their own currency and isolate from the dollar. If managed in a responsible manner, the currency would appreciate very rapidly to the dollar. Money would be made by the early investors in the new currency; and the financial world, based on the dollar, would become rational again.