Ron Paul comments on the recent gold price plunge

[tsai3904]

"That's a market phenomenon," said Paul. "That's not unusual. It reminded me of shortly after gold was legalized, in 1975, summer of 1976, gold went from $35 up to $200! Now, $200 was really radical. From there it lost 50 percent. Markets are like that. They're erratic. But I don't see the price of gold as the issue as much as the value of the dollar. The value of the dollar is a subjective thing, it comes and goes, and there're a thousand different reasons why the values go up and down. There's nothing unusual about that market."

One unusual thing, maybe. "There's only one thing I someday hope I can find out. There were 53,000 contracts of gold sold immediately, in one sweep, the day that gold really crashed. Fifty-three thousand is huge, because the gold market is very small. Let's say we're a Chinese bank. We want to dump our treasuries and our dollars; we have $2 billion. You don't dump 'em in one day, because you lose your investment. The person who was getting rid of 53,000 contracts, why would they do that? If they wanted to just wean themselves off, they would have done it slowly."

Paul was going to hold his portfolio, unworried about a repeat. "It was an abnormal market phenomenon, but obviously the weak holders had to get out, and the strong holders are back and buying."

http://www.slate.com/blogs/weigel/2013/04/18/ron_paul_isn_t_worried_about_falling_gold_prices.h tml

[VoteRandPaul2016]

This is all apart of the plan to get normal people to get rid of their gold and replace them with FED notes. AKA fuck what the market says and buy gold because it's going to go straight back up.

[PierzStyx]

Someone flooded the market with gold. I wonder why they'd do that now....

In any case gold is still the best investment possible. Now is just an excellent time to buy!

[VoteRandPaul2016]

Someone flooded the market with gold. I wonder why they'd do that now....

In any case gold is still the best investment possible. Now is just an excellent time to buy!

The powers at be are up to something -- I wish I knew what. I'm gong to try and convince my parents to invest as am I -- the price will go back up, the question is when and through what circumstances.

[FSP-Rebel]

I think they're desperate to prop up the value of the usd, so activate a selloff and purge the weak minded out of metals and back into the market. It's a last ditch attempt to strengthen the world's current reserve currency and that's partially why they advised Japan to print the shit out of their currency.

[Michigan11]

Well I know some new people that have been buying physical metals and many I believe will love a new lower price if they can find it. Not a big deal really and this year may be the largest gain in gold to date you never know.

[sailingaway]

The powers at be are up to something -- I wish I knew what. I'm gong to try and convince my parents to invest as am I -- the price will go back up, the question is when and through what circumstances.

Switzerland is buying major amounts of physical gold from what twitter is saying.