Posted on 02/11/2024 10:33:32 AM PST by Widget Jr
Gold is a popular subject for get rich quick scheme sellers, economic doom and gloom fearmongers, and political hacks to use. Armstrong is all of these and then some.
Comments, questions, informed critiques, angry ranting and raving?
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More information at Martin Armstrong Socrates Scam.
I generally don’t think of gold as an investment. It is more of a retainer of wealth. You start out with a pound of gold and years later it is still a pound. You can pretty much buy whatever you could buy with it before. Nothing beats that cool golden ring of a Kugarand however. Sounds as beautiful as it looks.
If I could afford to buy gold, the best way for me would be to drive over to Pinehurst Coins and pay cash for gold Buffalos.
You can’t eat gold. Well, I guess you can drink some flakes.
Agreed, a means of barter. I’ve also read about people keeping vice products like liquor, tobacco etc. for trade.
Yep, or hit the pawn shops and buy heavy pieces of gold jewelry. All the talk radios commercials talk about “owning physical gold” but do any buyers get to hold that gold in their hand?
Holding it in my hand immediately is part of the equation.
Gold is simply a hedge against inflation (retainer of wealth as you point out). I have it as 20% of my portfolio, with most of the rest in equities. This leaves me with enough to get by with in case the stock market crashes (in which case being poor will be among the least of our problems). Nobody is going to get rich speculating in gold.
When something is advertised on conservative talk radio shows it is generally a scam. Gold IFAs, IRS debt forgiveness, etc. Has ANYONE ever heard an ad saying, “NOW is a great time to sell gold.”
If you do not get physical control of a precious metal all you have is a piece of paper worth less than a Zimbabwe trillion dollar bill.
“How not to be a victim of gold scams.”
Be under 50…
There is a Noble medal element much more rare than Gold that draws my attention. It is Rhenium (#75) . It was the last stable element to be discovered. Even though it is very dense like Gold its ability to maintain high tensile strength at high temperatures means that jet engine blades can be up to 25% Rhenium. I figure nobody is ever going to go broke betting on war.
There is a semblance of safety in paranoia.
The plastic assay packaging has anti-counterfieting features to it. 
Yep, and if you want the stuff, just buy the stuff - CEF if you don’t want to hold or pay to store
I look at my own investments, including gold and silver. My long term gold holdings have had a compound annual growth rate of 3.5% over a ten year run. Silver hasn’t kept up, with a .51% CAGR during the same period.
Gold is not going to make you rich. But it generally keeps up with inflation over time. Silver is crap.
What the chart shows is what I linked about historic gold prices. Gold prices have been rising since 2004, there was a dip and recovery between 2012 to 2015, and the price and price variation have tapered off.
All of which shows Armstrong's forecasts about what would, was, and did happen were absurdly, obviously wrong.
Which is why he no longer refers to them while claiming he's predicted all major world events since the 1980s.
You are correct sir. Again, people like the author, cherry pick dates, etc. to undergird their agenda. I bought a brand new, std. equipped Honda Civic in 1978 for $3800. Gold averaged roughly $200 an oz.that year. That car would have been equivalent to almost 19 oz. of gold. Today that would be equivalent to about $38,000. A basic Civic now is about $24,000. If I cherry picked that data, gold has far, far outpaced inflation. See how it works?
Lookout when the Iraqi Dinar exchange flip hits!
(I know people who have held on to this hopium for way too long!)
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