Hey a blast from the past --a four month lag time is hard on the old memory but we were talking about how gold isn't money because it's not a unit of account and it's not a medium of exchange. We were also talking about the fact that no matter how many times this is said. the info never makes it across so that's why I asked Todd to see if he could explain it.
Looks like nobody can get it across, seeing how after four months not even Todd could clarify it.
btw, that "$400/oz later" is a fantasy. November's close was $1,372 and yesterday it was $1,427. The math is easier for me to do than explain but I get $55. While that may be a 13% annualized rate of return, we get a -81% annualized rate if we look at how gold's fallen since last Wednesday. A serious look tells us that precious metals are not a 'store of value' when the amount stored changes at rates jumping from +13% to -81%.