I think it's time we all switched to using gold as our unit of account, as the fiat currencies of the world continue to be consumed in a firestorm of inflationary "money" creation. Whether or not we hold actual physical gold (which we should, as our bedrock cash position) we should be seeking to own stuff that is rising in value in gold terms. The real problem is that the signals we get from investments priced in EUR, USD, JPY, etc. are being seriously distorted by the massive issuance of these currencies, resulting in investors continuing to hold them and even add to them, believing their value is rising when it is in fact falling.
Here are my comments on the US home price data just released in April of 2010. Prices in dollars appear to be stabilizing… but what is really happening?
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Here is a news item I found interesting, followed by my restatement of the story, priced in gold. You can also view a chart of net worth.
Americans' net worth rises for third straight quarter
Friday, March 12, 2010
Filed under Economy, monetary universe, new highs by
I'm off to Vancouver BC for Agora's annual investment conference. This year, I will only be able to take in two days, July 22nd and 23rd. If you are attending, look for my trademark pith helmet! I'd love to talk with you about gold, the economy and how life is shaping up for you. Please look me up if you get a chance! You can also follow me on Twitter, @vollumc.
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Since I published Gold101 there have been some wonderful articles giving additional details on buying and storing physical gold.
The first, called "Gold coin shortage likely to become chronic" by Michael J. Kosares, outlines the reasons why gold bullion coins have been so hard to find at reasonable premiums, and why these forces will probably keep premiums high in the future as well. BTW, Michael's book, The ABCs of Gold Investing: How to Protect and Build Your Wealth With Gold is well worth reading if you are new to buying gold.
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Gold is a type of money, just like Dollars, Euros, Pounds and Yen. Unlike these other forms of money, gold has been around for thousands of years, while many fiat systems have come and gone. Because the amount of gold in the world cannot be increased without finding and mining more of it, its value is fairly constant. This is in stark contrast to the fiat monies which can be created on command by governments and central banks.
Filed under average hourly earnings, Bonds, home currency, Interest Rates, monetary universe, money gold, nz dollars by
Yesterday the NY Times ran an article headlined, "Average U.S. Income Showed First Rise Over 2000".
The big claim is that after peaking in 2000, incomes fell, bottoming in 2003, and have now climbed back to make new highs in 2006.
Filed under Incomes, monetary universe, new highs, wages and salaries by
Recently I was in Vancouver, BC for the Agora Financial Symposium, which carried the tagline "A View from the Peak". There were many peaks discussed and analyzed: oil, food, water and debt, to name a few. The price of gold and silver got a lot of discussion, and forecasts abounded. Discussions and opinions were not limited to the speakers, of course – the hallways, restaurants and sidewalks were filled with animated discourse, colorful scenarios and useful information. As you can guess, I loved every minute of it!
Filed under adjusted gross income, Food, gross incomes, home currency, monetary universe, money gold, nz dollars, profitable ideas, Wheat by
The first part of this interview covered Paul van Eeden's background and laid out his views on gold, inflation and interest rates. In this final segment, we'll discuss what to do about this situation – how to translate this view of the world into investment action.
More on Gold, Inflation and Interest Rates continued – Episode 5
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Last year, in July of 2007, I attended the Agora Financial investment Symposium in Vancouver, BC. There were a lot of excellent speakers and sessions covering all aspects of investment, with quite a bit of emphasis on natural resources and a strong international flavor. One of the speakers who impressed me the most was Paul van Edeen. On my return home I subscribed to his newsletter – which has since become one of my favorites.
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