CBS Says What?

'Buy gold' advises the big US news outlet...

WHAT is this? gasps Brian Maher at The Daily Reckoning.



CBS News is advising you to acquire gold?



We are waylaid, gobsmacked and astounded. Yet it is true.



"There are multiple reasons why beginners should consider investing in the metal as soon as this week," we are informed.



CBS News proceeds to cite the three central reasons. Reasons one:



"With many experts predicting a price of $3000 per ounce shortly, now is the time to buy in while it's still affordable. If you wait, you could miss out on the portfolio protection a gold investment can provide. And the price could rise within days."



Reasons two:



"While a reduction in the federal funds rate [didn't occur last month], the Fed [gave] greater insight into their decision-making process and the chances of a rate cut to come in September when they meet again...



"In this scenario, more investors may turn to gold for protection, causing the price to rise."



More investors have evidently turned to gold for protection, causing the price to rise.



Its price skyshot higher after the Fed's 'no change' decision at its most recent meeting.



The betting market presently gives 100% odds of a September rate reduction.



Reasons three:



"A changing inflation rate and what many expect to soon be a lower interest rate climate may soon combine to affect your portfolio, perhaps significantly...A diversified portfolio can help take advantage of some volatility, such as those offered by stocks and bonds, while still offering some protection against larger economic concerns.



"Gold can adequately perform the latter function, especially if it's done in the form of 10% or less of your overall portfolio."



Perhaps CBS News is at last heeding the counsel of Jim Rickards.



It is unlikely – yet we must consider the possibility.



Jim believes gold is destined not merely for $3000 or $5,000 or even $10,000.



Jim believes gold is destined ultimately for $15,000.



Here is why 'Bond King' Jeffrey Gundlach believes investors are herding into gold:



"I think there is just growing awareness that developed country governments are completely out of control.



"I feel like the average person is starting to realize the gravity of this problem...that we are running on a debt-based scheme with no end in sight. And I just think that people are starting to think that 'Maybe I should own...real money'."



We hazard there is justice here.



What stands behind the Dollar?



Ultimately, the word of the United States government.



That is, nothing stands behind the Dollar.



If you seek a substance behind it you will not find one. It is not there.



And it is increasingly evident to those with eyes to see it.



Hence the hunger for "real money".



Are you after real money of your own?