Pray for $500/oz Gold
Most responsible adult Dads buy life insurance to protect their loved ones. It is a strange bet we make on our own life. We bet we die young to win but hope and pray we die old and lose our bet.
Gold is somewhat the same financial bet. No one really wants to see gold hit $10,000/oz next year because of what it would take to get there. We would be rich but live in a poor world surrounded by misery.
So we place our bet and hope we lose. In other words, we buy gold and pray it goes to $500/oz. We pray for a long, happy, healthy financial world to live and raise our children.
What would a world with $500/oz gold look like?
It would be a world with a strong USD brought about by a surplus in federal / state / local government budgets across the country. Where the government debt is slowly shrinking instead of growing by leaps and bounds.
It would look like a country with full employment in good manufacturing, mining & agricultural jobs that create wealth for everyone.
It would look like balanced trade with the rest of the world instead of a staggering trade deficit that keeps getting larger.
It would look like a Federal Reserve with a much lower profile that doesn’t conjure up $1 trillion / year out of thin air. (Maybe no Federal Reserve at all?)
It would look like a much smaller government in general with much lower taxes and no income tax on labor.
It would look like a world where the government did not spy on its own citizens and make numerous laws that made criminals of us all.
It would look like locally owned healthy banks on Main Street and much smaller investment banks on Wall Street.
It would look like personal responsibility with medical savings accounts instead of Obama-care.
It would look like our troops at home defending our shores from foreign invaders instead of our government using them to fulfill its lust for money and power under the guise of chasing boogey men around the world.
It would look like a stable monetary system that held its value that allowed citizens to save without fear of inflation stealing their savings.
It would look like more privately owned small business owners who invest their profits at home and less multi-national corporations moving capital and factories offshore.
It would look like a country filled with Christian men and women who love God and care about one another. With capable leaders of high moral values that put their country’s welfare above their own.
That’s what a world with $500/oz gold would look like. So don’t worry about the short-term volatility. Just place your bet. Buy gold at whatever price you can while you can. Then pray for it to please drop to $500/oz. I wouldn’t mind losing that bet at all.
Larry LaBorde
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