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Gold Holders Beware!
The worst possible news for gold hit this week when the Wall Street Journal ran an op-ed piece touting the metal’s virtues. Famed equity strategist, Christopher Wood, in a piece entitled “The Fed is out of Ammunition” concluded by stating the following:
“…the present crisis in the West will ultimately end up discrediting mechanical monetarism — and with it the fiat paper-money system in general — as the U.S. paper-dollar standard, in place since Richard Nixon broke the link with gold in 1971, finally disintegrates.
“The catalyst will be foreign creditors fleeing the dollar for gold. That will in turn lead to global…
26Nov2008 | Oxbury Research | 0 comments | Continued
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