Gold is not a currency, it's not money, it's not an investment and it's going down

In this video I explain why all the gold bugs have it wrong. Gold is not a currency, it'snot money, it's not even a good inflation hedge and the price in 2012 isheaded lower.

Category:

News & Politics

Tags:

• Gold
• gold bugs
• gold supply
• inflation

[AustrianEconomics101]

@raspberrybaggio GOld has been going down at the end of every year, begin every year, then it goes up following the longer trend. Don't listen to fools like the one in the video, he has been wrong on everything. Follow Peter Schiff's advise.

[IrradiateTheNWO]

this twat is wrong wherever he shows his tanning salon mug

[overlogg]

lol...this guy is beyond clueless....

Good stuff, I need a laugh this evening...

Thanks

[LibertyMike1]

Iran has just announced it will accept gold as a form of payment for oil exports instead of dollars. That to me indicates gold can in fact be used as currency. Anyone who doesn't belive me, look it up. Anyone who knows about this and understands that gold is in fact a form of currency, thumbs up this comment to show Mike Norman that he is yet again wrong. How many times must "Mikey Doggy" be wrong before he starts changing his opinions??

[NotoriousEid]

WAT A FUCKN TOOLBAG THIS GUY NORMAN IS? THIS GUY SHOULD BE IN JAIL FOR BEING STUPID AND INFECTING THE MINDS OF MANY WITH HIS IDIOCY. GO GET A JOB IN GAY PORN U FUCKN HOMO LOSER FAG. LOOK AT UR OFFICE... IT LOOKS LIKE SOME BACK ROOM TO A FUCKN BROKEN DOWN OFFICE BUILDING. U R A SAD FACE IN THE MEDIA AND THE REASON WHY PEOPLE GET DUPED IN THEIR INVESTMENTS. SERIOUSLY BRO, UR A MORON!!

[rydaug79]

Why do you always use 1980 as an example of a date to have first bought gold? How did gold do as an inflation hedge since 1990 or 1970 or 1929?

[TheResistanceV]

This person is delusional.

[Oztrigger5]

Mike, my main man, have you managed to find those artificial lending standards yet? Schiff can help if you need it but I'm sure you will work it out.

[marcusbrooks1776]

Mike, Gold is money, India has agreed to pay the price of crude oil it imports from Iran in gold, instead of US dollars.How do you explain that?

[kennjohnsen]

When Nixon took the US off what was left of the gold standard, one ounce was 35 dollars, just covering the inflation the gold would be today 700 dollars, it is 1700 hundred dollars ? so that's not a fence against inflation ? Watch this alpha dog of the people, all he tries to protect is his alpha dog position.

[kennjohnsen]

Have you noticed that in Zimbabwe gold is now the game of the day, any commerce is now done with gold, nobody wants the Zimbabwean dollar ? if you want to eat, you got to have gold.

[kennjohnsen]

If you want to preserve the value of your savings, precious metals is one of the best way. Or even increase the value, one ounce in 71 bought you 97 gallon of gas, at 0,36 a gallon. In 2012 one ounce of gold buy you 566 gallon of gas, at 3 dollars a gallon. The statist paper money have really screwed the blue-collar people, as always the clever people fools the less clever people.