gold, page-62609

Didn't Michael Pascoe hit the nail on the head when he wrote this.......


There are appreciating assets, depreciating assets and barbaric metals that just bounce around. One is a good investment, one is not an investment and the other, well, it's gold. It's important not to confuse them.Gold made sense as a play against the US dollar when the greenback was going down, like many other things.

Common ol' iron ore actually ran much further in percentage terms. Gold has proven yet again to have none of the intrinsic, immutable, super powers the bugs firmly believe – but there's no point trying to tell them that as it really is more a matter of faith, of religion, than supply and demand and occasional mania.

The hardest of the hard-core have a dystopian view of the world, preaching the collapse of governments and society and such. In that world, they claim, only gold will be worth anything. I would have thought tomato seeds and shotguns would be more useful.