The anti-gold-bugs on this thread are so ridiculous it's hilarious. Gold loses a few dollars in one day and they get this "gold is for idiots!" attitude. Never mind the fact that it has nearly doubled in price in the past few years. They simply HATE to be reminded of that and any time gold loses ground they act like they just won the lottery, even though they haven't won a dime.
Imagine how idiotic it would look if during a major stock market bull ride, someone would come on and say "see! stocks are bad!" every time the bulls took a day off. Well, you don't have to imagine. Just read the anti-gold-bug posts. ;-)
I'm sorry, the arguments the goldphiles have are just ridiculous and they do use temporary market news in real estate, the stock markets, and the currency markets to sell their product.
So tell me, if gold is such a good investment, how is it that those most vocal on it's investment potential are those most eager to sell it?
Just an FYI........Bill Murphy from GATA is on a web-radio show next Mon. (12/19). He'll be on the Nat'l Intel Report (M-F 4-6 PM CST) and it's at www.rbnlive.com then click "listen live" on the left side menu.......then choose which audio service you prefer. NIR is a good program that has covered the effects of depleted uranium on our soldiers, Bush's plan to give illegals Social Security, etc.
In Jan 1980, gold was at $620/oz.
In Jan 1990, gold was at $410/oz. Now it's about $505?
In Jan 1980, Exxon was about $55/share, it's now about $60/share but it's split 4 times since then...meaning you've quadrupled your money in 25 years with a safe stock.
In Jan 1990, Halliburton (the evil empire) was at about $33/share. Now it's $66 and it's split once, meaning again 4 times your money.
In Jan 1990, Walmart was $42/share (now $49) but also split 3 times.
In Jan 1990, Budweiser was at $38/share (now $43) but it's split twice since then.
In Jan 1990, the Dow average was at 2750, now about 10500.
In Jan 1980, the Dow was at 830.
In Jan 1990, the S&P 500 was about 355, now about 1275
In Jan 1980, the S&P 500 was about 108
....but go ahead, keep buying gold.
Any who invest in gold other than to take advantage of market flucuations are idiots. It can be profitable to speculate in just as other commodities like soy beans and corn are but those who invested in 1980 and held on lost their shirts just as any who believe the long term trend will be profitable to them to buy and hold will lose theirs.
Pretty shiney and useful for many things gold is a disaster as a monetary instrument, a guarantee of deflation and slowing economic growth.