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When governments print money, buy gold

telegraph.co.uk — Control-freak politicians abhor gold because it ignores them; it won't do what it's told. It defies economists and laughs at central bankers.

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  • kayaker712, on 01/21/2008, -0/+2Currencies come and go, but gold has been a store of value for more than 5,000 years. Gold is rare, but, thanks to Gutenberg, paper money is not. Presented with an opportunity to churn out extra cash at little expense, it takes a special kind of government to resist. Few seem able to do so.
    I recall seeing a comedy skit from the show Saturday Night Live. I don't remember if it was Ackroyd or Murray but he did a Jimmy Carter impersonation about "Inflation is your friend."
    I was not great at English at that time but I remember him saying that he wanted to be able to wear $1000 suit and smoke a $100 cigar and it was great because everyone would be a millionaire.

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