The only form of sound money..., page-4

re: The only form of sound money...CASH! Nickoo

I was living in South Africa when proof Krugerands were all the go - scammers running pseudo exchanges giving daily quotes on the price of the coins. During that period (Mid East Oil crisis) gold hit over $US800 and as I've mentioned previously if gold still had the same attraction as it had then it would be well over that by now post Sep 11.

IMHO gold has long ago had its day in the sun - it staggers around $320 whilst the world goes through crises that in previous times would have sent it through the roof.

As for you suggestion - what is it you are actually recomending? Should I take 20% - 50% or whatever of my accumulated wealth - such as it is - and buy American Eagle gold coins, Maple Leaf gold coins, Krugerands, Aussie Kangaroo gold coins or gold ingots and shove them under my bed.? Should I then hope that when the sh^t hits they will be worth more than I paid for them plus the costs of holding at no interest plus the in and out commissions? And (apologies) what do I sell them for - cash?

Gold is for the superstitious even in paper forms let alone the real thing - and I'm never superstitious 'cause it just brings you bad luck.

It would be interesting to see what returns you would have had from holding physical gold, say, over the past five years?

Regards

(PS love your work.)