Sunday night’s 60 Minutes included an interesting segment on gold in Northern Canada and the Yukon. The interesting part of the piece was the remarkable attraction that gold has for men. “There’s no fever like gold fever” runs the old saying, and it’s true. At the thought of finding gold, men leave their families, pack up their belongings and head to the land of the yellow metal. Some men spend their lives looking for gold.
The rise of nations can be traced by the direction of gold. It’s been almost two generations since gold madness enveloped America. I suspect we’re once again entering a period of gold insanity. Gold entered a period of insanity in 1849, with the forty-niners flocking to California. 130 years later, we saw a second period of insanity when the price of gold rose to $850 an ounce in 1980.
The chart below shows gold coming to life ... Log in or subscribe to continue reading.