Word: bigs
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Dates: during 2000-2009
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...contemptuously. When Mr. Schuester challenged her motives, she stared him down. "You don't know the first thing about me," she told him, and as we watched her arrive later at a nursing home, smile so tenderly and sit down to read Little Red Riding Hood to her big sister with Down syndrome, we realized the same was true...
What's going on? Part of it is the fact that "gold's gyrations are the Dow Jones index of anxiety," as this magazine put it three decades ago amid the last big gold fever. When investors are scared - about inflation, about political turmoil, about financial breakdown - they return to the soft, shiny metal that has for millennia served as a store of value. When things calm down, as they did after the gold price peaked in 1980 at $850, demand for gold subsides and the price declines. (See pictures of modern day gold prospectors...
...managing director for government affairs at the World Gold Council in New York. (That compares with about 8% for stocks.) It's less a ticket to riches than what Milling-Stanley calls an "insurance policy." Many of the commodity investors who have recently piled into gold are looking for big gains, not insurance, and their involvement may guarantee that gold's price will be driven too high and then crash. But waiting in the wings is another set of market players who are likely to have more staying power: the central bankers. (See more about gold...
...Gold is the one currency a central bank can't print," says Martin Murenbeeld, a veteran gold watcher who is chief economist for Canadian money-management firm DundeeWealth. Gold's big attraction as a pillar of the global monetary system is that it isn't beholden to national politics. The downside is that its supply increases fitfully, with no regard for the state of the world economy. That's why John Maynard Keynes called the gold standard a "barbarous relic," and why you won't find anyone outside the goldbug fringe calling for a full return to the gold standard...
...big recession surprises...