“Buying Gold Is Just Buying A Put Against The Idiocy Of The Political Cycle. It’s That Simple!”

From Kyle Bass comes this nugget:

“Buying gold is just buying a put against the idiocy of the political cycle. It’s That Simple”

1 thought on ““Buying Gold Is Just Buying A Put Against The Idiocy Of The Political Cycle. It’s That Simple!””

Glenn Nelson November 19, 2011 at 9:56 am

It is a seductive defense, though, in this very volatile moment in history. Probably better than the mattress, definitely more reliable than government instruments, and is a necessary fall-back position for a good portion of the portfolio.

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Democracy is a tool, not a system of governance. It provides a messy but peaceful means of transferring power. Democracy is no substitute for rules or a Constitution. Without these boundaries democracy turns into the oppression of the minority by the majority. Monty Pelerin
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The carrot dangled by the fascist state is always the same: there is a free lunch for everyone who cedes control over their lives to the state. For corporations, the free lunch is a quasi-monopoly; for debt-serfs, new programs that erase their debts (i.e. transfer them to others), and for everyone, more entitlements, up to the Nirvana of the fascist state, Guaranteed Minimum Income for all. Charles Hugh Smith
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