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The entire world economy almost capitulated during the GFC and...

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gozinsa

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21/08/18

15:10

Post #: 35066915
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Originally posted by Skol ↑

What's my definition of a goldbug? Not someone who speculates on gold stocks because I've done it myself quite a few times. A while back.

I'd say someone who calls gold 'money' or a 'currency' which it obviously isn't. I'd also classify as goldbugs those who listen to turkeys like Schiff, Maloney, High, Sinclair, Sprott, Berwick and all those scammers that have lost their fans a fortune over the years.

Also those that say the USD is 'doomed', it's losing it's value, that gold's going to $5,000, $10,000 or in the case of Clif High who looks like a homeless vagrant, $125,000.

It's a pity so many have misplaced their faith in a metal that has performed miserably, costs to store, has exorbitant buy/sell premiums, is illiquid and historically an investment disaster, many of them have lost fortunes. Generally it needs a new generation of suckers to buy into the 'gold will make you rich when the world collapses' theme, that's why the last period between gold peaks was 31 years.

I guess that's life though, I've just been reading about some speculators who've lost the lot gambling on cryptos.

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The entire world economy almost capitulated during the GFC and your response is to call the folks who warned about it scammers and turkeys?
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