Gold, page-3347

Hi Timber and all,

So you don’t think I should be questioning the wisdom of where to place my money for safety.

Had I placed all my money into a Cyprus or Icelandic bank around 2007 I believe I would have made a 100% loss?

Alternatively I may have put all my money a year or two back into well paying USA Oil industry junk bonds and I see one funds value went from $2.1 Billion in July to just $788 Million last Thursday and have they have now stopped redemptions I dare say I would be struggling to get any money back once the lawyers are through.

However, the Gold I started buying back in 2002 may well not currently be at the same US price it was in 2011 my main point is I still own it all in my own safe keeping and it’s not so bad in AUD terms.

Current alternatives a bank deposit with either negative interest after inflation or indeed straight out negative, the stock or bond market or badly over bought Australian or UK property.

I’m retired and busy traveling the world fishing and whatever my little heart desires so I don’t want to work arable land so for now will stick to physical Gold. I firmly believe holding something tangible like Gold it the current world of paper printing and financial shenanigans makes good sense.

I recall when in the UK some time back an acquaintance telling me about the Icelandic bank paying 20%; I didn’t voice my opinion at the time but did wonder if it all just sounded a little too good.

You of course are entitled to your opinion but don’t be offended if I apply my cognitive faculties to my own opinion. I also don’t think it will be a hundred years before one of us is proven right.

To reiterate every ounce of Gold is still in my possession and I dare say I will be sleeping better than the nervous Third Avenue oil junk bond investors after last Thursday.

Cheers and very best regards: Andy