| I'm just curious as how a relatively small group of people can be responsible for affecting the price of gold? By all accounts libertarians are a small section of the populace yet you suggest they are driving up the price and causing a bubble in the trillion gold dollar market. It's hard to find solid data but this old article[1] states that $15,200bn worth of gold was traded in one quarter alone. I find it impossible that any one group of people can cause a bubble when that amount of gold is being moved around, much less the tiny slice of americans who consider themselves Austrians/libertarians. My second issue is with the idea that gold is in a bubble at all. Despite a couple of spikes the price has been about $1600 an ounce for the past 2 years. The trader/investor in me suggests that it was rising steadily for a decade until it reached a fair market price. Everyone from Goldman Sacs[2] to leftist George Soros[3] to libertarian Kyle Bass[3] suggest gold is getting boring and are bearish. So I'm not sure where you are getting this info that gold is in bubble territory? 1. http://www.ft.com/intl/cms/s/0/eb342ad4-daba-11e0-a58b-00144... 2. http://www.businessweek.com/news/2013-04-10/goldman-lowers-g... 3. http://money.cnn.com/2013/02/15/investing/soros-gold/index.h... 4. http://bloom.bg/11P3V3V EDIT: I love the downvotes from people who can't answer how Austrians are causing non-existent gold bubbles. Not like central banks bought more gold in 2012 than any other year since 1964[1]... it has to be those pesky libertarians and their love of this barbaric relic. 1. http://www.business2community.com/finance/central-banks-gold... |