GOLD (Au) PRODUCERS

[NYBob]

Why everyone is buying up gold?
2009-06-18 17:25:00
By Mogambo Guru

TAMPA BAY, FLORIDA: My latest sure-fire, money-maker idea
is to sue Yu Yongding, former bigshot with the Chinese
central bank, for plagiarism, as he is the guy who said
that “If the US can find a way to protect China’s assets,
America’s standing here will increase.”

My case is built on the fact that he said, repeated so as
to make sure it is on the record, that “If the US can find
a way to protect China’s assets, America’s standing here
will increase.”

I am suing because this is identical – identical! – to what
I said a long time ago, which I am sure you will readily
see when you compare his obviously-plagiarized remarks to
my original, “If you think that you can find a way to stop
the inflationary suicide caused by the over-creation of
money and credit, especially when used to finance massive
government deficit-spending over the long-term, then you
are in the category we professionals call Stupid-Plus-Insane
(SPI), because the Entire Freaking History Of The World
(EFHOTW) is one long, discontinuous, sad story of how one
idiotic government after another cheapened its money by
massive over-creation of money, or going into un-payable
debt, or both, and thus destroying the economy until the
idiots in charge found an excuse to declare war on someone
either smaller and/or more lightly armed, and merely
steal their stuff with which to pay debts.”

I am sure that you can already see the obvious similarities
with just that little introductory bit, but which is brought
into sharper focus when I continued, “And if you DO find
a way to painlessly deflate these horrid monetary bubbles,
then you will go down in history as the Smartest Person Who
Ever Freaking Lived (SMWEFL), since all the smartest men
who EFL before this all tried, with emergency governmental
powers unfettered by man or gods, to find a way to bail
dirtbag countries out of their bankrupting debts and
associated government idiocies, and they all failed miserably.”
Trade sitting at the comfort of home.
Start with a mere 50$

If there is any doubt left in your minds, ladies and gentlemen
of the jury, that this Yu Yongding (if that is his real
name, which I doubt because it sounds like he made it up
to me!) plagiarized the official Remarks Of The Mogambo
(ROTM), then explain the devastating similarity between
his comments and my concluding remarks, which are “All of
them failed, completely, to achieve this very thing, and
which makes me laugh uproariously – hahahaha! – at anyone
who still thinks it is possible, and if that is you, then
I extend my promise to devote the entire rest of my life to
bringing your Fabulous Big Plan (FBP) to the world if you
succeed in finding a way to bail out a heavily-indebted,
bankrupt, something-for-nothing welfare country that abuses
a fiat currency and unlimited fractional reserve banking,
coming as it does after all these many, many centuries of
means you won’t succeed, but thanks for trying, moron!”

I plan on using the big cash award from the jury’s verdict
to buy gold, silver and oil, which will not solve anything
other than my own future well-being, since these things
will soar in price because of the inflation in prices
from all of this inflation in the money supply from all
this inflation in government spending.

Maybe this ease of investment decision-making is why
the Chinese are buying gold, the Russians are buying gold,
all the smart people are buying gold, all the good-looking
people are buying gold, and why Bloomberg.com reports that
“Northwestern Mutual Life Insurance Co., the third-largest
U.S. life insurer by 2008 sales, has bought gold for the
first time in the company’s 152-year history to hedge
against further asset declines.”

In case you were wondering, they bought about $400 million
in gold, which is interesting in that later, the article
quotes CEO Edward Zore as saying that
“In the Depression, gold did very, very well.”

The ominous reference to a Depression aside, what he did not
say is that over the long-term, gold has always done very well.
Neither did he comment on my lawsuit against Yu Yongding,
nor did he squeal like a happy pig in his joyful glee
that “Whee!
This investing stuff is easy!” when you can so easily bet
against government stupidity

Richard Daughty (Mogambo Guru) is general partner and COO
for Smith Consultant Group, serving the financial and medical
communities, and the writer/publisher of the Mogambo Guru
economic newsletter, an avocational exercise to better heap disrespect on those who desperately deserve it. The Mogambo Guru is quoted frequently in Barron’s, The Daily Reckoning , and other fine publications. (Courtesy: Daily Reckoning)

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