.

Poll: Should Carroll County Invest in Gold?

Commissioner Richard Rothschild said he would like to see Carroll County diversify its holdings.

Commissioner Richard Rothschild recently told the county comptroller that he would like to explore the option of putting some county assets into alternate forms of low risk investments such as gold, silver and foreign currency.

"I was just hoping we could look at the possibility of taking 10 percent or so of our liquid assets and put them into some other alternate form of low risk investments that are inflation-proof so we have some protection in the case the dollar starts to go south," Rothschild said at a recent meeting of the board of Carroll County commissioners.

County Comptroller Rob Burk said such a move would be a complex process. He said it might require changing state law and that state delegates would have to get involved.

Burk said state laws and county investment policies determine how investments are managed.

"Our primary goal in investment policy is to focus on the security of the investment, ensure tax dollars are available when we need to spend them and to assure we have liquidy when we need to address obligations," Burk said.

Rothschild's comments came last week during a commissioners' meeting at which comptroller Burk recommended adding Multibank Securities, a brokerage investment firm, to the companies the county does business with. The board unanimously voted to approve the resolution as proposed by Burk.

Do you like Rothschild's idea? Should Carroll County diversify investments into gold, silver and foreign currency?

Bonnie Grady March 29, 2012 at 06:59 AM
Jackie, excellent points. Native, did you watch the video, by chance? He did more than ask for advice. He admitted in open session that he had initiated an earlier conversation about this with the county comptroller. I don't think Rothschild makes inquiries; he makes demands that sometimes sound like inquiries. Go back and watch the tape. Our illustrious county commissioner denounces the American dollar, proclaims it will fail, and then instructs the comptroller to contact the legislature or the State Comptroller to see what can be done to change MD law. Honest to goodness, I think Rothschild is anti-American. He's certainly anti-US Government. And doesn't that seem odd, coming from someone who professes to bow at the feet of the US Constitution and is sworn to uphold it?
Native March 29, 2012 at 01:19 PM
I don't blame him. The dollar's worth is falling in the world, the US's credit ratings have fallen because of the current administration's policies. That is why almost everyone is looking into other types of investments (precious metals, etc.).
George T March 29, 2012 at 01:55 PM
Bonnie, you are fixating on the messenger (who I couldn't care less about, either way) but are completely wrong on the facts. It takes no man to denounce the dollar, it's falling value speaks for itself. The framers of the Constitution understood the dangers of central banks and fiat currency, which is why the Constitution specifically states, in Article I, Section 10, Clause 1: No State shall…coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt". That's why it took all the way until 1913 before the financial oligarchies could get their hooks into the Treasury, and Congress passed the anti-American Federal Reserve Act. Our currency became Federal Reserve Notes from that point on. It's taken another hundred years for the fiat dollar to approach its death spiral. Things are about to get fast and ugly with the dollar. It won't survive this decade. The opposite is true for gold. Follow the smart money. Central banks were net-sellers of gold for decades, and only recently have become net-buyers.
Buck Harmon March 29, 2012 at 02:06 PM
If the intent is to do some doomsday prepper investing...I would recommend that the County buy hands on physical gold.... maybe set up cash for gold County stations.... stockpile the hell out of it !
George T March 29, 2012 at 02:18 PM
Why do you think all those "We buy your Gold" (for dollars) signs have popped up? The reason is not because they want to do any favors for you... I prefer to not think of it as doomsday, but just common sense. Physical is best. Not ETF's or other paper promises. I imagine that the County has access to a secure vault.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »