[Holicheese]

Can you imagine being the last poor b@stard that bought gold during the Carter administration. You would still be behind the 8 ball.
As soon as the small guy starts to buy, the big guy sells.

[Atlas Sneezed]

Can you imagine being the last poor b@stard that bought gold during the Carter administration. You would still be behind the 8 ball.

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But if the same guy was living in the real world, and put $1000 per year into the gold market from 1980-2004, starting at the worst-case date you pick in hindsight, he would have about $44,000 in gold (13% down from a few weeks back).

That's a 5% POSITIVE rate of return, when YOU get to pick the worst case dates. Worse than many stocks, but not at all behind the 8-ball.