Word: golds
(lookup in dictionary)
(lookup stats)
Dates: during 1970-1979
Sort By: most recent first
(reverse)
...fact, the 1970s have already seen one of the most spectacular gold rushes ever. This reflects a panicky flight away from paper assets−stocks, bonds, money itself−and back to the enduring luster of one commodity that neither corrodes nor tarnishes but seems in a sense to be the embodiment of immortality...
...allure is undeniable. In all of history, only about 80,000 tons of gold have been mined, no more than could be easily loaded into the holds of four C-5A Air Force transports. Current production adds a mere 1,430 tons annually, less than a 2% increase...
...Gold glitters not just because it is scarce but also because the future of many other investments seems so chancy. Inflation in the U.S., revolutions and coups around the world−the litany of upheavals has ceaselessly eaten away at people's faith in the abilities of their governments to deal effectively with the multiplying threats to global stability. The result has been a worldwide boom in doom, and in the marketplace of despair gold stands out like a beacon of security...
...words of James Sinclair, a leading New York gold broker, the price of the metal "has become a kind of Dow Jones index of investor anxieties." A worldwide subculture of goldbugs is thriving on the doubts. Gold has its bankers and boosters, its brokers and dealers, its lecturers and analysts. Each of them can quote Robert Browning: "Leave the fire ashes, what survives is gold...
...only are private investors flocking to gold, but governments too are beginning to come back. It might even be argued that they never really left in the first place. Though U.S. policy since 1944 has been to "demonetize" gold and thereby reduce its importance as a store of any nation's wealth, the link between the dollar and gold is stronger than it has been in years...