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<p>[QUOTE=&quot;Ainslie Bullion, post: 2199959, member: 75209&quot;]Billionaire hedge fund manager George Soros, on how to make money, famously said&nbsp; - &quot;Find a widely held precept that is wrong and bet against it&quot;.&nbsp; On Tuesday Jim Rickards tweeted “#Gold is plunging because China has less than expected, &amp; Fed is raising rates. Except that China lied and Fed can&#039;t raise rates. Go figure.”.</p><p><br /></p><p>These 2 quotes fit nicely for those that understand.&nbsp; We are in the middle of a central bank induced (printed money and ultra low interest rates) asset bubble with weak fundamental support (low GDP growth, financial instability) whilst carrying and rampantly adding unsustainable debt.</p><p><br /></p><p>There are no end of mainstream press commentaries about gold falling out of favour.&nbsp; In the Wall Street Journal in the weekend there was an article describing gold as “like a pet rock” and owning it as an “act of faith”.</p><p><br /></p><p>The annotated chart below (courtesy of ZeroHedge) revisits the timing of a similar article from 1999 in the New York Times.&nbsp; In essence the choice and faith equation is very simple.&nbsp; You can trust that central banks (the US Fed has been around for just over a century – but only 42 years without gold backing the currency) can steer us out of a situation they created by continually creating more credit / Fiat currency - OR – you can trust 5000 years of history of gold being the only real money, money that we humans revert to every time the credit experiment goes wrong.</p><p><br /></p><p>Soros’s quote may not be more relevant than it is right now.<img src="https://www.ainsliebullion.com.au/Portals/0/gold%20commentary%201999.jpg" class="bbCodeImage wysiwygImage" alt="" unselectable="on" />[/QUOTE]</p><p><br /></p>

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