"Whenever destroyers appear among men, they start by destroying money, for money is men’s protection and the base of a moral existence. Destroyers seize gold and leave to its owners a counterfeit pile of paper. This kills all objective standards and delivers men into the arbitrary power of an arbitrary setter of values. Gold was an objective value, an equivalent of wealth produced. Paper is a mortgage on wealth that does not exist, backed by a gun aimed at those who are expected to produce it. Paper is a check drawn by legal looters upon an account which is not theirs: upon the virtue of the victims. Watch for the day when it bounces, marked: "Account Overdrawn."
Ayn Rand
Gold Over $2,000 and Silver Over $50 in 2011 - John Embry (KWN)
I used today as an opportunity to buy a little more broadly in gold and silver near the lows as bullion approached some short term oversold levels below 1370 and 29.00 respectively. These were plays in bullion primarily with little or no leverage, with some paired trades for hedging.
