I started to calm down about paranoia... but this got me going again.
When you examine the underlying psychology it's only about fear...
There is such a thing as intrinsic value.... clean water, good food, a roof over my head and a bed to sleep in, friends and a friendly world.
Gold has no intrinsic value.... zero, nada, ziltch. It's all about psychological value.... it is a fear trade.
I don't believe any of the 'fundamental' arguments about golds value as opposed to 'fiat' money. Neither possess intrinsic value. Fiat has value in direct relationship to confidence.
That's it. Their fluctuating price is nothing more than a measure of the prevailing 'herd' mentality.... the swing and roundabout of confidence and fear.
Now that fear is on the rise all of the gold peddlers are out in force.... touting their wares, triumphantly pointing to the chart. I look at that video demonstrating the extraordinary lengths they have gone to.... all appealing to a person's fear. Look! It's even safe from nuclear attack! Good lordie... if nuclear bombs have gone off l dare say you won't be worrying about gold.
Despite appearance, l am an optimist. I can always draw something positive from every event. It's not my preference to invest in gold stocks. But no matter how independent of mind l might believe that I am, stuck in a 'herd' you go the way you are pushed.
