So you know how Glenn Beck and those financial fear-mongering Paul guys were telling everybody to take their money out of the banks and buy silver and gold?
And all their little sheep did just that?
Oh dude, they got scammed. It was highway robbery.
Gold reached an all time high price of $1911 per ounce on August 23, 2011, during the debt limit crisis. By election day 2012, gold had fallen to $1777 per ounce. That amount of gold sells, today, for just $1178.
The picture’s even worse for silver buyers—and worse still for the people who snapped up oil futures. Silver peaked at $48.70 per ounce on April 28, 2011. By Obama’s re-election it had plunged to $31. Today, an ounce of silver costs $15.7.
And still, this week!, Ron Paul says to buy gold because it could “go to infinity.”
Don’t.
Just don’t. When the Libertarians have an idea, it’s generally bad.
Now let me tell you one of the reason I enjoy writing about this. Any time I mention Ron Paul, I get a ton of email at the Tell Juanita section from people who do nothing all day but google “Ron Paul” and send long, long, oh so looooong letters to me explaining why Ron is turning water into wine.
Well, guys, he’s now turning water into chicken poop.
So, hey, you and your gold and your first edition Ayn Rand have a real nice day.
Thanks to David for the heads up.