Nouriel Roubini warns about the New Gold Bubble . Gold has no intrinsic value he says
Nouriel Roubini wrote his clients earlier this month: "If you truly fear a global economic meltdown, you should stock up on guns, canned food and other commodities you can actually use in your log cabin."
Nouriel Roubini, economics professor at New York University and one of the few experts to warn about the epic U.S. housing bubble and its consequences when there was still time for central bankers to safely deflate it, this month warns about "the new bubble in the barbarous relic that is gold."
Reminding clients of his financial advisory service that gold "has no intrinsic value," Roubini finds no fundamental justification for gold's rise "with no near-term risk of inflation or depression."
Early this month, Hu Xiaolian, a vice-governor of the People's Bank of China, was asked if the central bank would be replacing more of its greenbacks with gold after a gold purchase earlier this year. He said that was unlikely given that the bank now worries about the emergence of a gold bubble.
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4 comments:
Roubini you sound like johnny come late.Bob Chapman Alex Jones and many others gave out this info 2 to 3 years ago. You are now dribbling this out. Wow no wonder you have no respect you dribbling fool.
You just started dribbling this info that bob Chapman Alex Jones and others have been saying for the last 4 years.Why is this ? I feel sorry for your students. How boring you must be
Try to eat Gold... When food, water, and lodging are survival imperatives, people will choose survival and most will be sporting fast moving lead...
Gold is a precious metal. It has always been considered valuable because of it unique properties. This gives it intrinsic value. Paper money does not have intrinsic value. Paper is worthless. Funny how you have these things mixed up. Roubini is a tool for the establishment, and is full of $#^!. Hes probably a brookings institute fellow. I think he knows the truth, the Value of gold is not going up the value of the dollar is going down. Go feed this bs somewhere else.
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