Are “gold bugs” Unpatriotic?
Peter Schiff Jul 28, 2006 Those of us in the investment business who advocate individual gold ownership are often accused of being unpatriotic. In part, this charge stems from the dire economic forecasts that often form the basis for such recommendations in the first place. However, our critics often confuse the recognition of a problem and the belief that its inevitable resolution will be painful, with an actual preference for such an outcome in the first place. I can not speak for everyone, but as a self professed “gold-bug” myself, if there were any way for America’s many economic imbalances to be resolved painlessly, of course I would root for that outcome. However, as this is no more possible than a heroin addict kicking the habit without going through withdrawal, it makes no sense to hope for it simply to satisfy someone else’s misguided concept of patriotism. In fact, from my perspective, letting my emotions guide my investment recommendations, even under the pretext of patrioti
