Well I certainly did not buy in 1980 and only a short time ago and only a small amount. I had a little extra due to a death in the family and was first going to buy GE stock, which I had owned in the past when it was doing well. I’m very glad I chose the gold for now.
Don’t get me wrong, I’m not criticizing you (I own some gold as well). But I’m also worried about the gold market overall.
On the one hand, it’s odd to see both supply and demand so high, especially with the fact that NOBODY can actually say how much there is; I can do research and in a couple seconds figure out how many shares of outstanding stock there are in a XZY Corp. and it’s easy to verify that a stock certificate is legitimate, but that is impossible with gold. It’s entirely possible that a lot of the gold that has been bought the past few years is nothing more than worthless paper.
On the other hand, look at diamonds, it is an accepted fact that the supply of gem-quality diamonds FAR EXCEEDS what is in circulation. But it’s controlled by a cartel and they have a vested interest in keeping supply down, because demand is fairly predictable. But what if demand for diamonds were to skyrocket in a short period and they just decided to flood the market at the highest prices ever? The diamond cartel could effectively cash out and people would own a lot of beautiful diamond jewelry that was now worth a fraction of what they paid for it. What if world supplies of gold are 50 or a 100 times what people believe and a consortium has been hording it for a century or more? What happens then?
General Eletric is a bag of s**t and is very close with the Saudis. This is why they spew their pro-left pro-islamic BS. Uncle Sam Obama backed GE’s debt because it was going to get attacked by credit default swap shorts and would have become insolvent. If interest rates go up - GE is dead meat.