“Silly girl, it was never meant to be worn as a suit.”
Shhh! Gold is magic! How dare you subject it to critical analysis like other lowly commodities!
The impending crash of gold will be an excellent buying opportunity, allowing maximum profit when it goes to $10,000 an ounce!
Could the author also be using newspundit.net for his financial news and information? Like us, he must appreciate their no nonsense hard hitting journalism and their detailed and objective financial analysis.
It can be a useful asset if governments inflate the fiat currency. Merely a tool, like many others.
Depends on who makes the suit.:)
“Silly girl, it was never meant to be worn as a suit.”
True. In 1935 an ounce of gold would buy a great suit and today an ounce of gold will buy a great suit.
Now compare that to this...
In 1935, selling an ounce of gold and buying the equivalent of the DOW or S+P and holding till today would buy you THE ENTIRE SUIT FACTORY!
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.
From the article:
Not so great. At the start of the year 2000, prices for gold and silver in real terms were about the same as they were one hundred years before (see charts). Demand (largely from industry) has increased, but supply has on average kept up.
Gold and silver are money, not an investment. Anyone pretending that they are an investment is a shill or a speculator. Anyone pretending they aren't money is ignoring history.