Friday, November 26, 2010

My Letter to the WSJ re: Behind Gold's New Glister

Subject: Re: Behind Gold's New Glister
Date: Fri, 26 Nov 2010 10:20:58 -0500

Re: Behind Gold's New Glister

Dear Sirs:

GLD created a market for a product that was growing in demand. It is not true that it somehow created demand that was not there in the first place. It is evident to all that fiat monetary systems the world over are nearing the end of their usefulness, because governments have inflated their supply and are promising even more inflation. Thusly, the people are flocking to the one commodity that always retains it value--gold. It is important to remember that the so-called price of gold is nothing more than a relationship of a known commodity that cannot be inflated to something of absolutely no intrinsic value and which can be inflated to infinite amounts.

Patrick Barron

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