I still find it difficult to comprehend how you distinguish so...

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spartan300

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21/08/18

15:54

Post #: 35068466
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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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I still find it difficult to comprehend how you distinguish so widely between gold and gold stocks.

How are you able to say that gold is a basket case and a sure way to lose money when some gold stocks are among the best on the ASX and still going strong even through the ups and downs of the gold price?

I'm not trying to be facetious, just trying to understand the logic behind your views.
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