I've just been watching Aunty Lynette's diatribe above...the whole thing. It's designed for dupes and suckers, there's hardly a word of truth in it, along with lots of dramatic language and gesticulations.
Crap like, "once the dollar collapses", "$8,000 gold is dirt cheap", "gold has the broadest base of buyer than any asset out there", "always, always demand", etc. etc.
She also waffles on about digital gold, i.e. gold derivatives, but fails to mention paper timber, paper weather, paper cows, paper hogs, paper orange juice, paper property etc.etc.
And of course that goldbug favourite - "suppression" without one single element of proof. She also fails to mention that fiat money is designed to depreciate and then bangs on about Zimbabwe and Venezuela. She doesn't mention at all that both those undemocratic failed states are monetary basket cases and have been for years, printing money thinking that all will be well without any economic accountability.
And that old chestnut, the unemployment rate isn't really 3.6%, it's much higher, the Bureau of Labour Statistics is fudging the numbers.
She doesn't own any stocks or bonds, so she's actually committed financial self harm, she reckons they're severely overvalued, but doesn't provide any evidence to back it up, like P/E ratios for example. She says the Fed is printing money and it's out of control, so why isn't there any hyperinflation if that's the case, like Zimbabwe?
She alleges that loads of central banks, the Bank of Canada, the Bank of International Settlements, the IMF, the Federal Reserve are buying gold "hand over fist".
It's crap, the Federal Reserve for example, doesn't own one cent worth of gold, the Canadian central bank sold all their gold over the last few years.
Her favourite phrase, "when the system collapses", she allege the USA won't be able to service its debt, but it's never defaulted on its debt in is history.
It's all a load of unmitigated rubbish, I'd love to see this woman front up to a debate with a Federal Reserve economist, she wouldn't last 2 minutes.
