One of the readers of this blog is Hugo Salinas-Price a businessman from Mexico and a strong proponent of silver and gold backed currency. We exchange emails several times a month.

In response to "Midas Crush" - MarketWatch Attempts to Explain "Why Gold is a Bad Investment" I received the following comments from Hugo and have his approval to share them.

Hello Mish!

Kitco's Jon Nadler is forever doing his best to discredit gold. This is like trying to discredit the Law of Gravity.

At the same time, Nadler is Chief Economist for Kitco, which sells gold and silver and also stores those metals for customers. Why Kitco should employ him as their economist is a mystery.

It's enough of a mystery that I would not dream of keeping precious metal deposits in the custody of Kitco.

Kitco employing Nadler is like having a whaling company contributing to Greenpeace.

Best regards

Hugo