Steve Hochberg

Gold conspiracy? - Not a believer in a Gold conspiracy and there is no evidence that gold is being manipulated. This thinking does not help you to invest.

Gold Investing: - No one is going to get rich investing in gold in the next 5 years. Gold, base metals, housing, commodities, Euro and stocks have all run up. Contra-cyclical markets are now running pro-cyclical. At the late stages of a credit cycle, everything is moving with liquidity. As liquidity expands, everything rises. As it contracts, everything falls. This is what is starting to happen.

Deflation: - Deflation will bring bullion down. Inflation that has occurred in the last 7 years was not currency inflation, but credit inflation. Fed's main goal was not to print Federal reserve notes; it was fostering expansion of credit. Difference is that credit can be extinguished much faster than the Fed is able to print currency. When the $ denominated value of debt declines on a currency inflation, that is deflation.