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Pathways Advisory Group, Inc.
Dustin Smith, CFP®  |
Some great quotes this week about the Economy and Gold:
Economy: “I believe with 100% certainty that we as Americans are in the early stages of a crisis that will shake the very foundation of our nation” - Porter Stansberry, End of America Presentation. Never start an hour long discussion about the economy with “I believe with 100% certainty”. It doesn’t exist in Economics.
Just ask Alan Greenspan, with my favorite quote of the week: “No economist knows for sure exactly where the economy is going. We pretend…. but it aint so.” – Alan Greenspan, CNBC Interview. The interview covered a wide range of topics (employment, housing, debt levels, education and the eurozone). It was very interesting… although I suppose some of you would rather watch paint dry…
Gold: The marketing strategies for gold are priceless. David’s favorite radio gold commercial of the week: “There has never been a better time to buy gold.” Really? What about last month, last year, three years ago, five years ago and ten years ago? I can think of a few better times…
Or, my final quote of the week from Nick Murray, Investment Advisor, Author and Columnist: “There is one universal truth of which the genuine investor is unshakably certain: here on Planet Earth, price and value are inversely correlated.” Or put another way, value does not come when you buy high, it comes when you buy low. He was referring to a gold advertisement that referenced a ten year run up in gold as a reason to buy.
We live in interesting times. Have a great weekend.
