Ellis Fox Business Interview – Why Gold Is a Ponzi Scheme
Fox Business — July 26, 2011 [4:59] MoKa Investments’ Gil Morales and Strategic Financial Group CIO Lincoln Ellis debate whether gold will continue its rise.
One Response to “Ellis Fox Business Interview – Why Gold Is a Ponzi Scheme”
Why no mention of Europe? See Gold, Silver, Greece and Ponzi Socialism
With $ uncertainties, the Euro overpriced, Japan vulnerable, the Middle East and Norh Africa in turmoil, Pakistan shaky etc etc it's unsurprising gold's stateless money franchise attracts support. I think you also glossed over demand from China where new channels have been established for promotion of precious metals.
Overshoot and undershoots are par for the course in currency and commodity markets. But gold production is static while the gold fear trade – paper currencies going to pot and the gold love trade – traditional trust in gold and silver in Asia and the Midle East are both strong. Over 50% of world gold production now goes to China and India. It's hard to see what's going to change that dynamic. Factor in Europe's Ponzi problem and the case for a strong gold ;price looks even more compelling.