Gold is the color of revolutions

As the happy owner of one Troy ounce of gold in the guise of a Canadian Maple Leaf coin, I am sorry to say I hardly qualify as a gold bug. Nevertheless, I do qualify to become a member of the Gold Bug Tribe because I distrust Norway’s Central bank (Norges Bank) and their attitude towards my saving account. Norges Bank is trying its hardest (and succeeding) to engineer a 2 percent yearly inflation and reducing the interest rate to next to nothing. My money is wilting away in the Norwegian banking system.

There are not many Gold Bugs in Norway, and some of them have apocalyptic arguments for investing a little of their money in gold. They believe that the American dollar will collapse in a not so distant future because the Americans print too much money and own the rest of the world billion upon billions of dollars. They also believe that the consequence of an American monetary collapse will lead to the collapse of the Norwegian Oil Fund. Norway’s investments are locked in funds and stocks and junk bonds, and not in infrastructure, schools, hospitals and other sensible projects. These facts are not willingly mentioned by the Chairman of Norges Bank in his speeches. After all… he is not a harbinger of possible bad scenarios. He is paid to give the people a positive view of the state’s investments.

Conspiracy theorists are suggesting that something is amiss at the core of global finance.. However, if you argue against The Powers That Are, you are thought an unrealistic madman. And fanatical Gold Bugs are Mad Hatters straight out of Alice in Wonderland. They have probably been sniffing gold dust for breakfast. But then again X-Federal Reserve Chairman Alan Greenspan said gold is so universally treated like money itself, it’s as if it’s “inbred into human beings”. Russia has noticed this phenomena, and the Russian central bank has been a heavy buyer of gold. It has been tripling its holdings since 2005. World Gold Council statistics (March 2015) state that Russia have got 1034.7 tons of gold in stock. The country bought another 30 tons in March alone. Vladimir Putin’s growing stockpile reflects a kind of skepticism for the American dollar. Probably he might reason that it is better to be safe than sorry and therefore stock some gold in the vaults. Norges Bank should look to Russia and Germany and buy a few hundred tons of the precious metal. If the shit hits the fan and we get another financial crisis and the price of oil falls another 50 %, the Chinese will gladly trade with gold as a substitute for devalued western currencies.

What now, little man? Well, my subconscious has made a decision as I was writing this. Based upon my now conscious mind I will at once buy a 1/20 ounce Australian Year of the Goat gold coin and present it in Coin Weekly. Then I will have yet another gold coin in my pocket.