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* "bug" to unflatteringly describe a kind of zeal or zealotry; blind to fact or logic, "that creeps or crawls."<ref>http://www.merriam-webster.com/dictionary/bug</ref>
* "bug" to unflatteringly describe a kind of zeal or zealotry; blind to fact or logic, "that creeps or crawls."<ref>http://www.merriam-webster.com/dictionary/bug</ref>
* a person, or firm, engaged in the marketing of gold irregardless of price or price action.
* a person, or firm, engaged in the marketing of gold irregardless of price or price action.
* a person who opposes or criticizes the use of [[fiat currency]] and supports a return to the use of the [[Gold Standard]]<ref>Gevinson, Alan. [http://teachinghistory.org/history-content/ask-a-historian/25222 Silverites, Populists, and the Movement for Free Silver]. [http://www.teachinghistory.org Teachinghistory.org], accessed 18 December 2011.</ref> or some other currency system based on the value of gold and other hard assets.
* someone who considers one commodity, usually gold, "the appropriate measure of wealth, regardless of the quantity of other goods and services that it can buy".<ref name="Rorty">{{cite web |url=http://rortybomb.wordpress.com/2011/01/21/kristol-kalecki-and-a-19th-century-economist-defending-patriarchy-all-on-political-macroeconomics/ |title=Kristol, Kalecki, and a 19th Century Economist Defending Patriarchy all on Political Macroeconomics. |last=Konczal |first=Mike|date=21 January 2011 |work=Rortybomb}}<!-- Private blog, but higly regarded (see http://rortybomb.wordpress.com/about/ ), so keeping for now. --></ref><ref name="Krugman">{{cite web |url=http://www.slate.com/articles/business/the_dismal_science/1996/11/the_gold_bug_variations.html |archiveurl=http://web.archive.org/web/19981202233021/http://web.mit.edu/krugman/www/goldbug.html |archivedate=2 December 1998 |title=The Gold Bug Variations |last=Krugman |first=Paul |authorlink=Paul Krugman |date=22 November 1996 |work=[[Slate (magazine)|Slate]]}}</ref>
*A person, often with views summarized above, that subscribes to [[Conspiracy theory|conspiracy theories]] relating to gold and silver, frequently including but not limited to, alleged manipulation of the price of precious metals and the supposed disappearance of gold held by the United States Government at [[Fort Knox]].<ref name="As price of gold falls, conspiracy theories rise">{{cite web | url=http://www.theglobeandmail.com/report-on-business/economy/economy-lab/as-price-of-gold-falls-conspiracy-theories-rise/article11245980/ | title=As price of gold falls, conspiracy theories rise | publisher=The Globe and Mail | accessdate=26 July 2014}}</ref><ref name="Paranoids have enemies, radical gold bugs have Wall Street">{{cite web | url=http://www.marketwatch.com/story/radical-gold-bugs-vs-wall-street-2010-04-05 | title=Paranoids have enemies, radical gold bugs have Wall Street | publisher=Market Watch | accessdate=26 July 2014}}</ref> The Gold Anti-Trust Action Committee (GATA) is a small but prominent promoter of such conspiracy theories within the gold bug community.<ref name="About GATA">{{cite web | url=http://www.gata.org/about | title=About GATA | publisher=GATA | accessdate=26 July 2014}}</ref> However, such persons are widely dismissed as cranks and their beliefs as fringe by reputable economists, business leaders and government officials.<ref name="GATA and Gold: The Truth is Revealed">{{cite web | url=http://caps.fool.com/Blogs/gata-and-gold-the-truth-is/457331 | title=GATA and Gold: The Truth is Revealed | publisher=The Motley Fool | accessdate=26 July 2014}}</ref><ref name="Debunking the Post-CFTC Precious Metals Fear Mongering Campaign ">{{cite web | url=http://www.peakprosperity.com/forum/debunking-post-cftc-precious-metals-fear-mongering-campaign/38388 | title=Debunking the Post-CFTC Precious Metals Fear Mongering Campaign | publisher=Peak Prosperity | accessdate=27 July 2014}}</ref>
* The future gold price being in some way tied to an unproven, so far unrealized, and unverifiable, investment thesis that predicts that gold price will rise in time to hyper-inflation destroying the US Dollar. Many people marketing this viewpoint, including [[Doug Casey]],[[Gonzalo Lira]],[[Bill Murphy]], and [[King World News]], derive economic benefit by providing gold bugs with a steady stream of [[confirmation bias]].<ref>http://www.zerohedge.com/article/zero-hedges-top-10-most-popular-posts-2010</ref>
* The future gold price being in some way tied to an unproven, so far unrealized, and unverifiable, investment thesis that predicts that gold price will rise in time to hyper-inflation destroying the US Dollar. Many people marketing this viewpoint, including [[Doug Casey]],[[Gonzalo Lira]],[[Bill Murphy]], and [[King World News]], derive economic benefit by providing gold bugs with a steady stream of [[confirmation bias]].<ref>http://www.zerohedge.com/article/zero-hedges-top-10-most-popular-posts-2010</ref>

The concept, in the second sense, was popularized in the [[1896 US Presidential Election]], when [[William McKinley]] supporters took to wearing gold lapel pins, gold neckties, and gold headbands in a demonstration of support for gold against the "[[Bimetallism|silver menace]]."<ref>Mieczkowski, Yanek and Carnes, ''The Routledge Historical Atlas of Presidential Elections'' (2001), p.176. ISBN 0-415-92133-3</ref>


==Conflicts of Interest==
==Conflicts of Interest==
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*Eric Sprott<ref>http://kingworldnews.com/kingworldnews/Broadcast/Entries/2014/5/10_Eric_Sprott.html</ref>recommending gold while at the same time being the principal of Sprott Asset Management ,a firm engaged in the offering of bullion funds and other funds containing junior mining companies<ref>http://www.sprott.com/about-sprott/</ref>
*Eric Sprott<ref>http://kingworldnews.com/kingworldnews/Broadcast/Entries/2014/5/10_Eric_Sprott.html</ref>recommending gold while at the same time being the principal of Sprott Asset Management ,a firm engaged in the offering of bullion funds and other funds containing junior mining companies<ref>http://www.sprott.com/about-sprott/</ref>
*Mike Maloney suggesting that "if there is still a US Dollar around it will not be the US Dollar"<ref>http://www.zerohedge.com/news/2014-07-06/mike-maloney-dollar-we-know-it-will-be-gone-within-6-years</ref>while marking high margin bullion jewelry (low bullion value), emergency food, and gold and silver coins.<ref>http://goldsilver.com/</ref>
*Mike Maloney suggesting that "if there is still a US Dollar around it will not be the US Dollar"<ref>http://www.zerohedge.com/news/2014-07-06/mike-maloney-dollar-we-know-it-will-be-gone-within-6-years</ref>while marking high margin bullion jewelry (low bullion value), emergency food, and gold and silver coins.<ref>http://goldsilver.com/</ref>
*Jim Willie advocating the case for gold while selling the Golden Jackass Newsletter<ref>http://www.goldenjackass.com/</ref>


==References==
==References==

Revision as of 03:25, 7 October 2014

For other uses, see Gold bug (disambiguation).

The term gold bug might apply to:

  • an investor or speculator who is very bullish in buying the commodity gold, or similarly themed financial products such as junior mining companies, gold certificates, bullion efts, and other derivative instruments related to precious metals (or even potentially rationalizing bitcoin as having some of the same characteristics as gold)
  • "bug" to unflatteringly describe a kind of zeal or zealotry; blind to fact or logic, "that creeps or crawls."[1]
  • a person, or firm, engaged in the marketing of gold irregardless of price or price action.
  • The future gold price being in some way tied to an unproven, so far unrealized, and unverifiable, investment thesis that predicts that gold price will rise in time to hyper-inflation destroying the US Dollar. Many people marketing this viewpoint, including Doug Casey,Gonzalo Lira,Bill Murphy, and King World News, derive economic benefit by providing gold bugs with a steady stream of confirmation bias.[2]

Conflicts of Interest

  • Jim Sinclair on JS MIneset[3]as CEO of Tanzanian Royalty Exploration[4]
  • Peter Schiff making a case for gold on CNBC[5] and then selling gold investments at Europacific Capital[6][7]
  • Eric Sprott[8]recommending gold while at the same time being the principal of Sprott Asset Management ,a firm engaged in the offering of bullion funds and other funds containing junior mining companies[9]
  • Mike Maloney suggesting that "if there is still a US Dollar around it will not be the US Dollar"[10]while marking high margin bullion jewelry (low bullion value), emergency food, and gold and silver coins.[11]
  • Jim Willie advocating the case for gold while selling the Golden Jackass Newsletter[12]

References

  1. ^ http://www.merriam-webster.com/dictionary/bug
  2. ^ http://www.zerohedge.com/article/zero-hedges-top-10-most-popular-posts-2010
  3. ^ www.jsmineset
  4. ^ http://finance.yahoo.com/q/pr?s=TRX+Profile
  5. ^ http://www.cnbc.com/id/101820335#.
  6. ^ http://www.europacmetals.com/
  7. ^ http://www.europac.net/services
  8. ^ http://kingworldnews.com/kingworldnews/Broadcast/Entries/2014/5/10_Eric_Sprott.html
  9. ^ http://www.sprott.com/about-sprott/
  10. ^ http://www.zerohedge.com/news/2014-07-06/mike-maloney-dollar-we-know-it-will-be-gone-within-6-years
  11. ^ http://goldsilver.com/
  12. ^ http://www.goldenjackass.com/

See also


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