gold reaches new record high !, page-29

afternoon,


" trying to get a quick buck from gold is not a straight forward thing"

For anyone at all to try making a quick buck out of gold, they should know that thinking like that flies in the face of thousands of years of behavior in why people have traditionally held gold.

Mainly, gold has been held for reasons of portability, durability and reliability as a store of wealth - obvious enough. It is also held as an insurance - so if all else goes down the gurgler then you are left with a heavy lump of stuff that will last forever and usually someone will part with something you want for a piece of your yellow metal.

Only fools and desperate's through history have taken to gold for a quick buck.

I would say that if you see people getting into gold en mass using the greater fool theory - then it is probably time to exit - into what? god knows.


As with any insurance there will be a cost - in my case a cost I am happy to pay.

I feel 100% certain that no matter what collapses - currency, property, the whole shebang - gold will always in my lifetime be worth something - at times perhaps worth less than I paid for it and at other times more than I paid for it - it all depends on time and what I am measuring it against.

One should remember that the average life of a fiat currency is very very short - but gold has been around as a tradable commodity, money or whatever else you want to call it for thousands of years - not quite as long as sex, but a lot more durable.

Forget the quick buck - look at it at the moment as insurance.

have a great day

Pinto