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News Link • Gold and Silver

Forbes: Why did Ron Paul say gold could go to infinity?

•, by fonzdrew
It's certainly exciting to think about the upside, the profit potential. Who doesn't want to buy whatever's going up? However, in the case of gold, there is a serious error in this thinking.

Dr. Paul has put his finger on something very important. The government is abusing its credit, and borrowing itself into oblivion. If this continues, then the value of the government's debt and currency will drop, probably quite rapidly. This means the price of gold will skyrocket.

Suppose you buy gold today at $1300, and then the price doubles. Should you rush out to sell the gold, to take profits? At $2600 an ounce, you have twice as many dollars for your ounce of gold.

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