[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.

[Holicheese]

What was the high for gold in the late 70s?

[RBroadfoot]

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

I bought 10 Krugerrands for $100 each just before the 1976 election. I bought and sold gold coins throughout the Carter Administration and made a very tidy profit as he mismanaged our federal government. When Reagan was elected I sold almost all of my gold. (BTW, you do have to pay taxes on the capital gains!) But I kept the original 10 KR and I have no regrets for doubting the integrity of the US$ during the Carter years.