Thurs Post #2: Alan Greenspan says "Gold is not in a bubble"

For all those who believe that Gold/Silver are wise investments, scorn is endlessly heaped upon them.

Called a 'barbarious relic' that doesn't generate dividends, the metals are always denigrated as an investment vehicle or as a currency. 

Which is why this bloomberg story caught my eye.

In a week where gold hit a record above $1,900 an ounce, Allan Greenspan came out with a shocking statment. The former chairman of the US Federal Reserve (1987 to 2006) said today that he did not think gold was in a bubble.

• “Gold, unlike all other commodities, is a currency. And the major thrust in the demand for gold is not for jewelry. It’s not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating.” 

Exactly!
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