To: Gritty
Unbelievable how people will deny the fact that gold has, for thirty years (!) been a LOSER. Someone must be desperate to crank the price of gold up. It won't happen dude. We are in deflation. REPEAT AFTER ME,
DEFLATION.
Oil prices low (about $.70 cents, after taxes, or pre-1969 levels).
Interest rates at all time post-Depression lows.
All OTHER precious metal prices down.
Productivity rising, but not prices. In any econ textbook, outside this goofy website, that is DEFLATION.
5 posted on
09/03/2002 1:58:48 PM PDT by
LS
To: LS
So why have I made a fortune this last year in gold and shares? Check out the prices of HGMCY and DROOY, which I purchased after 9/11. Have taken profits and building my retirement home in Northern Idaho.
Gold performs well in run-away deflation because of currency turmoil.
Do your homework.
To: LS
I believe the worst of the deflation may be over. The commodity indices are moving higher.
To: LS
So I gather from your post that JPM is laughing all the way to the bank at the unlettered yokels who think that you have to OWN something before you can SELL it, or at least be prepared to make good your deficiency.
That's old-fashioned thinking at its worst! Money is worth whatever our glorious leaders decide it needs to be worth to make the world a better place.
As the great Democratic prophet Lenin said," After the Revolution, gold will be used for public toilets."
It's good to see his vision has not perished.
To: LS
What about the recent (last 6-12 monthhs) upward trend in commodities (corn, wheat, etc)?
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