Gold the Dollar's Canary?

Thursday, October 08, 2009

Gold-The Canary in the Coal Mine
By: Charles Goyette, Author, The Dollar Meltdown
Before modern ventilation systems, coal miners would often take a caged canary underground with them. In the presence of deadly gases, the canary would first stop singing and soon die. That was all the evacuation warning early miners needed.

The price of gold is a referendum on the quantity and quality of paper money and, like the canary in the coal mine, it is signaling a warning: there’s trouble with the dollar reserve standard. Around the world the alert are looking for ways to abandon it...

...The dollar bubble may not pop suddenly like the dot com bubble or the housing bubble. But like the miner’s canary, the gold price is warning that our monetary system is toxic.


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