US

NY Times on Gold: ‘The Tea Party of Investments’

As the second round of quantitative easing gets underway, the New York Times is realizing a trend: more and more people are turning their back on paper investments and instead buying gold.

“The weak dollar, the volatile stock market, the lackluster economy, the yawning budget deficit, the accommodative Federal Reserve — all this and more have people rushing for gold,” the article says.

“It’s in effect a protest vote that there’s something amiss with current policies,” the article quotes Abhay Deshpande as saying — he’s a portfolio manager with First Eagle Funds and a longtime gold investor.

The author notes that over the last two months, the dollar has declined six percent “against its principal peers” while gold has jumped 17 percent.

Not lost even to the Times is who else is snatching up the shiny commodity: George Soros.

Read the entire NYT article.

Comments (53)

1 2
  • Frostbyte
    Posted on November 10, 2010 at 7:52pm

    Back when Beck started telling everyone to protect themselves, rice was $23 per 100 lbs, flour was $8 per 100 lbs, sugar was $9 per 50 lbs, silver was $14.75 per oz, and gold was about $625 per oz. I believed him then, and there was plenty of food supplies to be vacuum packaged and stored for future use. Have you not waited long enough? A good safe could be purchased for a few hundred dollars, and provide you with a means to keep your bullion out of the hands of the federal government and other thieves.
    Just because everyone says that you need sell your house and dog to buy gold, do not fall for it! There is 1/17 as much gold as there is silver in the earth’s crust. That is why the price of silver is historically 1/17 the price of gold. Granted the price of silver has doubled since Beck first warned us, but it is still affordable at about $27 per oz.
    Americans of this past and current generation are unwilling to accept responsibility for their actions or in-actions. Those who prepare for the future must soon decide how to deal with those who have been raised to believe that they have the right to seize the product of your labor. The rewritten history books do not tell you about the countless thousands of Americans who starved to death in the thirties.
    Since we are among those lucky few who have been told what Soros is bringing, these is no reason that we should follow the actions of those who perished during the depression.

    Report Post »  
  • glenng2
    Posted on November 10, 2010 at 6:54pm

    Time for all of usTeaPartiers to start holding our protests at Soros funded groups offices.

    Report Post »  
  • theneighborhoodguy
    Posted on November 10, 2010 at 3:37pm

    Soros is 80…time to start thinking about WHO is his chosen successor(s) might be…and start shining a bright light on them. Thoughts?

    Report Post »  
    • OneRepublic4us
      Posted on November 10, 2010 at 6:05pm

      Soros has 5 children and two of his sons are already involved. I don’t know about the other three.

      Report Post » OneRepublic4us  
  • trukmek
    Posted on November 10, 2010 at 1:37pm

    If soros sells his gold, hopefully nobody will buy it and he’ll get stuck with it. Personally, i’m taking dylan ratigan seriously, I am investing in lead, brass, and food seeds.

    Report Post » J.C. McGlynn  
  • Firebrand
    Posted on November 10, 2010 at 12:50pm

    I think a better question might be, “What happens if Soros were to sell all of his gold back at at the same time?”

    Report Post » Firebrand  
  • Brad Wesselmann
    Posted on November 10, 2010 at 12:11pm

    It’s time we start eliminating our screen names and go by our given names. If we want our words to mean something we must be willing to stand by them. This simple act will expose the trolls and immediately make them irrelevant. As long as they can hide in our ranks, they will have power to manipulate…without disguise, they will disappear into the shadows where they belong. At worst, they will form up and make an easier target to discredit immediately.

    I used to go by screen name IKW, and those days have come and gone.

    Report Post » Brad Wesselmann  
  • Tyson
    Posted on November 10, 2010 at 11:30am

    Here are some other good sites

    http://www.honeyvillegrain.com
    for wheat berries and freeze dried vegetables and fruits, has a $4.99 flat ship rate on any size order
    http://www.laneyhoney.com
    for your honey supplies
    http://www.usaemergencysupplies.com
    for an all round supply center
    and if you are in NC
    http://www.ncrangercorps.org
    for a preparedness site

    Report Post » Tyson  
  • Tyson
    Posted on November 10, 2010 at 11:28am

    I did buy some tobacco seeds this year and will plant them in the spring, Don’t smoke but being in NC wanted to try my hand at it. but your are right in a post collapse whos going to make it, and someone will always want a smoke

    Report Post » Tyson  
  • Tyson
    Posted on November 10, 2010 at 11:14am

    Here are some good prep sites

    http://www.survivalblog.com (check out the list of lists to prep for anything)
    http://www.honeyvillegrain.com (if you buy bulk wheat berries which store long term then don’t forget your grinder)
    http://www.usaemergencysupplies.com (great site for all types of food and supplies)

    if you are in North Carolina go to http://www.ncrangercorps.org (for preparedness info and classes)

    Report Post » Tyson  
  • tracer51250
    Posted on November 10, 2010 at 11:11am

    GhostOfJefferson
    We have lots of camping equiptment, as we love to camp and go every year for 2 weeks. My concern is our homes. Thanks for the tips on seed packs, I never would have guessed you could get them on Ebay. I live in Las Vegas and we just bought a home on 1/3 acre that has a large area in the back separated by a block wall, I just had that cleared out this weekend and am getting dirt delivered this week to prepare it for a garden this spring. I‘ve been stocking up for some time now but don’t have anywhere near a 6 month supply. I’m also looking at buying a male and female rabbit along with a couple of chickens but am not sure where to keep them just yet. It gets very hot here in the summer so getting rabbits makes me a little weary but chickens are pretty hardy. Wow, what a crazy time we are living in!!! Thanks for all your help!!

    Report Post » tracer51250  
    • Tyson
      Posted on November 10, 2010 at 11:19am

      Don’t bother with ebay for seeds. There is no guarentee that they will be Heirloom or open pollenated. go to
      http://www.victoryseed.com

      The prices will be much more affordable, and you can choice the right mix for your area. DON’TY buy the Gardern Seed Packs, over priced and suspect origin.

      Report Post » Tyson  
    • GhostOfJefferson
      Posted on November 10, 2010 at 11:21am

      Some of the sellers on eBay are quite helpful and can recommend “full garden heirloom seed packs” based on the zone you live in. I wish I had the seller I was using at my fingertips right now, but that information is back at home, he was very helpful. I live in Ohio, where it is possible to spit on the dirt in your backyard in spring and have a full acre of corn to harvest from that dirt in autumn. Other places are difficult sometimes, know your planting zone(s). Remember, heirloom seeds, not hybrids or “normal” seed packs. Heirlooms are the kind we all used to grow for thousands of years, the kind where you can gather the seeds from the harvest, dry them out and plant them the next year. Hybrids are iffy at best on that, and many produce seeds taht won’t germinate if they produce seeds at all.

      Also, if you want a tip, and are looking for “post collapse” currency, my best idea/guess (and this is only me saying it) would be…buy tobacco seeds, learn how to grow and dry it (it’s simple). I’d wager cigarettes will be worth way more than gold in that situation. Just speculation of course, and it depends on whether you can grow it in your region or not. :)

      As to your land, no idea. We’re looking at paying off our mortgage, we have about half of it to go but we seem to have the money in savings/investments to do so. Those who cannot do that, I honestly have no idea what to tell you.

      Report Post » GhostOfJefferson  
    • GhostOfJefferson
      Posted on November 10, 2010 at 11:24am

      @Tyson

      That could be true. Mine have worked out fine, the seller is reputable, but it is a shot in the dark. Victoryseed is a great site, great recommendation.

      Report Post » GhostOfJefferson  
  • Tyson
    Posted on November 10, 2010 at 11:11am

    True,
    Best investment strategy is Beans, Rice, Bullets, then Bullion. Buy your food first, then a means to secure it (if not at the same time), buy extra in case you have family show up that didn’t heed the warnings and signs, then get out, get out of any dollar based security you can and convert it to silver first, then gold. Ratio at 2/3 silver to 1/3 gold. Silver will have value and is easier to barter with, or use as an inflation hedge. Ignoring PM’s altogether is not smart. And if nothing happens and Bernake pulls a miracle from his back side sell it and put it back into your choice of investments.

    Report Post » Tyson  
  • tracer51250
    Posted on November 10, 2010 at 10:24am

    Ok, so how does this work? I don’t have money for gold or silver, but I can buy food. What happens when milk is $45, what happens to our homes and cars when we can’t afford our bills? Just how many homeless people will there be? They can’t kick us all out right? Where will everyone go and what will they do?

    Report Post » tracer51250  
    • GhostOfJefferson
      Posted on November 10, 2010 at 10:53am

      @ Tracer51250

      Food and water are more important than metal. I really really can’t stress this point strongly enough. Get food canned, asap. Buy heirloom seed packs, plenty of them on eBay that you can get for a song, that give you a huge garden that can feed a neighborhood, with seeds that you can save off the harvest for the next year’s planting. Buy cases of spare canning lids, as well as cases of mason jars.

      Gold and silver is ok, to a point, but if you have to trade an ounce of gold or silver for a loaf of bread in a year, you’re going to be out of gold really quickly.

      Visit some of the “survivalist” food preservation sites, loads of good information to be found. Also, http://www.simplycanning.com is a good resource to start with canning. If you can afford food, and I’m certain you can, start with food/canning/long term mylar storag; and eschew precious metals for the time being.

      Gas prices have shot up here from $2.60 two weeks ago, to $3.10 (they announced on the news that the gas prices will rise today or tomorrow to $3.10 and to fill up today). Food prices are rising already, I’ve actually did spot checks on specific foods (green beans, beef, chicken) from last week until this week, prices are going up.

      If you want to not pay for $45 milk, get canned evaporated milk or powdered milk now, btw. Stores for 6 months to a year. :)

      Water filter, need that too, and a nice one not a camping one.

      After that, heat sources. And some nice cold weather sleeping bags if you live in a place that has a hardy winter.

      Best case, nothing happens, inflation levels out and you’re ready for a blizzard or natural disaster, which is not a bad thing at all. Worst case, well, at least you have food, water and heat for your family.

      Report Post » GhostOfJefferson  
  • Ronko
    Posted on November 10, 2010 at 9:45am

    The Times should be more worried about Inflation which when it happens will cause the next depression to occur.

    Report Post »  
  • Sinista Mace
    Posted on November 10, 2010 at 9:44am

    Why store your riches in material things, which rust and moth corrupt and thieves break in and steal? Store your riches in heaven, the only bank that cannot collapse. Store your riches in heaven by giving your wealth to poor people.

    Report Post » V-MAN MACE  
  • Pyx
    Posted on November 10, 2010 at 9:43am

    Poor old Georgey. I ***almost*** feel sorry for him. Georgey will go to his grave knowing, there is a massive line-up waiting to relieve themselves by p!$$!ing on Georgey’s grave.

    Report Post » Pyx  
    • Gonzo
      Posted on November 10, 2010 at 10:04am

      No grave, he’s going to melt like the Wicked Witch of the West.

      Report Post » Gonzo  
  • Johnnybravo
    Posted on November 10, 2010 at 9:36am

    Food is up also, invest in food no really my wife just came home from shopping all freaked out she said food just shot up butter was 4 bucks a pound milk was up lots of goods going up, anybody want to buy a can of soup?

    Report Post »  
  • In God We Trust
    Posted on November 10, 2010 at 9:34am

    If I remember correctly, during the Great Depression gold was confiscated by the US Government. Someone, please correct me if I’m wrong.

    Report Post » In God We Trust  
    • GhostOfJefferson
      Posted on November 10, 2010 at 9:41am

      I gold was outlawed, yes, however there was nobody, to my knowledge (and my history on this particular question is somewhat fuzzy I’ll admit), some band of thugs going door to door confiscating gold. If I‘m wrong then I’ll have learned a whole new segment of Scary History. :)

      Report Post » GhostOfJefferson  
  • Gonzo
    Posted on November 10, 2010 at 9:20am

    Soros has the kind of money that could take out a U.S. president. My fear is when Obama is no longer useful, Soros makes a move on him, frames up a Tea Party guy and blames the whole thing on Glenn. This guy is dangerous, devious and ruthless. Pray for Obama’s safety and of course Glenn and his family.

    Report Post » Gonzo  
  • NickDeringer
    Posted on November 10, 2010 at 9:10am

    Being on the Left means living in a Leftopian fantasy world. The power of fantasy is so strong they can look at on coming disaster and tell everyone it’s not happening.

    It’s a little bit like Baghdad Bob: “There are no American tanks in Baghdad.”

    Report Post » NickDeringer  
    • snowleopard3200 {mix art}
      Posted on November 10, 2010 at 10:23am

      Yes and I remember the reporter about a mile or so away from Baghdad Bob talking to a tank commander who said he and his tankers will “Mosey on over to have a talk with him.”

      Report Post » Snowleopard {gallery of cat folks}  
  • egosumverum
    Posted on November 10, 2010 at 9:08am

    The right thing to do would be to confiscate all of George’s wealth and distribute it amongst all of the people to whom he has done financial/economic harm over the years. Now THAT would be a sweet example of how to handle reparations. Buck Ofama and the DOJ – Department Of Jihad.

    Report Post »  
    • Johnnybravo
      Posted on November 10, 2010 at 9:45am

      doj thats funny ill have to use that if you don’t mind.

      Report Post »  
  • TexasGranny
    Posted on November 10, 2010 at 9:06am

    The real problem is that the majority of middle-class Americans do not have sufficient funds to invest in gold. Middle-class Americans that have placed their savings in 401K plans will get hit again. Since my was wiped out in 2008, I don’t know if these can be switched over to gold or not but I was never offered the option. These are the people that will suffer the most when our economy collapses. The millionaires + are investing in gold and will not be taken down (that’s why “spooky dude” is switching over to gold).

    Report Post »  
    • GhostOfJefferson
      Posted on November 10, 2010 at 9:44am

      Mason jars and a decent pressure canner are quite affordable. I got my weighted pressure canner for $59 not too long ago. Mason jars are cheap, and lids even cheaper (stock up on lids, btw, if you plan on canning longer than a year after any “collapse”). Water filters, decent ones (British Berkefeld ftw) are $120-ish for a family sized one that filters ~2000 to 10,000 gallons per filter set.

      Better by far than gold if you’re looking to survive an economic collapse. Try and feed your family gold, and then try to feed your family canned green beans and canned beef, take note of which one keeps them alive. :)

      Report Post » GhostOfJefferson  
    • snowleopard3200 {mix art}
      Posted on November 10, 2010 at 10:21am

      @Texasgranny

      Consider this, if Soros holds most or all of his gold outside the US, and the millionairs in the US have theirs here in the nation; then what will happen to their piles of gold when seized by the feds?

      Report Post » Snowleopard {gallery of cat folks}  
    • GOTT-EM-MAUSER
      Posted on November 10, 2010 at 10:41am

      SNOWLEOPARD,

      ANY attempt by the Govt. to SEIZE ANYTHING, is but ONE of many triggers that will start the ball rolling. Open season on Govt. Robots will open immediately, with no bag limit. An overwhelming number of “Roof Top Voters” will begin casting their Ballots @ 2900 FPS, and continue Voting until it’s over.

      Report Post »  
  • EqualJustice
    Posted on November 10, 2010 at 9:05am

    HAHAHA I bought some over a year ago! :) This is why they were all over Glenn Beck about his GOLD sponsor and why WEEEEEEINER wants the feds to now “CONTROL” gold? Did you see that? http://libertymaven.com/2010/09/20/politician-wants-to-silence-gold-dealers/10692/

    Report Post » EqualJustice  
  • tobywil2
    Posted on November 10, 2010 at 9:05am

    INFLATION – STEALTH TAXATION

    The tyrants (Wannabe Peers) would have you believe that taxes are only increased when the legislature increases taxes. These tyrants use the confusion over the relationship between wealth and the medium of exchange (money) to perpetuate this myth. Actually, the tax on the economy rises whenever the government s increases spending. Tax laws just determine how the liability is distributed. If the taxes fail to cover expenses, the value of the dollar decreases and anyone who owns money pays the tax in the form of loss of purchasing power. Money, (paper money) has no intrinsic value. The dollar’s value is determined by the quantity of wealth the market is willing to exchange for the dollar. The dollar’s value eventually will be determined by the nation’s wealth divided by the dollars and credit in circulation.

    Inflation is not a recent phenomenon. During the 19th Century the inflation rate in the United States was 12% for the entire Century. In 1800, $0.89 had the purchasing power of $1.00 in 1900, a change of about 12% in 100 years. From 1900 to 2007 the inflation rate was about 25 to 1, a change of 2500% in 107 years. A Google search lists over 20 pages of “inflation calculators” three of the most popular inflation calculators list the inflation rate of between 24.6 and27.71 from 1900 and 2007. In other words, $1.00 in 1900 was worth around $25.00 in 2007.

    What happened? In the late 1800’s and early 1900’s four factors emerged that caused inflation to increase. These are:
    • Creation of the “Fourth Branch of Government” the Bureaucracy
    • Enacting and enforcing the Sherman Antitrust Act.
    • Creation of the Federal Reserve
    • Enacting the income tax
    • Wars

    How did these factors cause such erosion in the value of the dollar? Chapter 9 of “21st Century Common Sense” explains in simple terms how these factors produced inflation of the dollar and aided the “Wannabe Peers” in usurping our freedom. http://commonsense21c.com/

    Report Post » tobywil2  
  • WBOB
    Posted on November 10, 2010 at 9:00am

    and don’t forget Silver…..while you’re at it, commodities of all types.

    Report Post » WBOB  
    • GhostOfJefferson
      Posted on November 10, 2010 at 9:07am

      I heart silver. Have been accumulating it for over 2 decades now. I don’t have a magic room full of tons of silver, however, I have lots of it in my gun safe. My wife and kids recently started buying me gold ingots for birthdays/Christmas presents as well.

      Ultimately though the best investment if you really fear a dire economic collapse or severe hyperinflation, is long term food storage, water filters, heat sources and a plan on how to help your neighbors and family make it through the rough times. And guns. Lots and lots of guns. :)

      Report Post » GhostOfJefferson  
    • Beckofile
      Posted on November 10, 2010 at 9:28am

      Does anyone see how Gold has been mentioned more and more in the MSM. I think the wave for the metals may come if the main segment of the population catches on?

      Report Post » Beckofile  
  • SND97
    Posted on November 10, 2010 at 8:56am

    George Soros is the greatest threat to the Untied States we have had in our history

    Report Post »  
    • cubber
      Posted on November 10, 2010 at 8:59am

      Now we know, so he’s over.

      Report Post » cubber  
    • snowleopard3200 {mix art}
      Posted on November 10, 2010 at 9:02am

      Agreed, this is why I see him buying mega stockpiles of the gold; aside from just some kind of insurance against inflation and such.

      He will make tons of money off the collapse of the dollar by shorting it; in the gold markets, the panic this will cause will enable him to reap mega profits from the sudden surge for gold as everyone else rushes to buy it from anyone else willing to sell it.

      Mr Soros will smile and say “Just meet my demands first…”

      http://www.artinphoenix.com/gallery/grimm

      Snowleopard {gallery of cat folks}  
    • Anarcho Capitalist
      Posted on November 10, 2010 at 9:04am

      they will soon ban gold.

      Report Post » Anarcho Capitalist  
    • HKS
      Posted on November 10, 2010 at 9:08am

      Ironic for Soros, he got his start in gold. I guess it does come full circle.

      Report Post » HKS  
    • RichardSaunders
      Posted on November 10, 2010 at 9:19am

      I hope the NYT recalls the efforts of those like Soros and the current Administration to destroy our economy … and thus, once the “New World Order” becomes reality … and the NYT becomes the “World” Times .. I hope they are proud of their complicity in the realization of this “new world”!

      Report Post » RichardSaunders  
    • Beckofile
      Posted on November 10, 2010 at 9:26am

      Don’t count ole Soros out just because one guy on TV exposes him to a tiny portion of the populace. Just get ready and prepared as Glenn has said. Remember only a tiny portion is awake and will become the target for doing the correct things to survive. Just as savers got wiped out for doing the right thing over the past few decades. Guns, Gold and God (with some food)

      Report Post » Beckofile  
    • Johnnybravo
      Posted on November 10, 2010 at 9:32am

      They wont ban gold, they may ban you from having it.

      Report Post »  
    • TheGreyPiper
      Posted on November 10, 2010 at 9:39am

      HKS: Ironic for Soros, he got his start in gold.

      Not quite — I thought he got his start with 30 pieces of silver….

      Report Post » TheGreyPiper  
    • RightWrite
      Posted on November 10, 2010 at 9:55am

      He got his start stealing gold from the Jews he was tasked to remove from their homes in Nazi Germany. Soros was a Nazi, and nobody in the MSM wants to talk about it.

      Report Post » RightWrite  
    • ron the veteran
      Posted on November 10, 2010 at 10:46am

      i think we need to lock that guy up in a tiny cell with no contact to any of his money. this guy has caused nothing but distruction all over the world.

      Report Post »  
    • ron the veteran
      Posted on November 10, 2010 at 11:20am

      soros is a jew nazi his father changed their name to be more hungarian sounding. even hitler has a jewish bloodline.

      Report Post »  
    • ishka4me
      Posted on November 10, 2010 at 10:08pm

      I hear Glenn say over in over”don’t back it up with paper, you can’t eat paper” i say, you can’t eat gold either. If you were planning for something so bad, i say stock up on true commodities when government fails, whiskey, cigarettes, fuel, guns and ammo. These assets are always worth a fortune in crisis

      Report Post »  
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