Honestly, I do not know what value gold can possibly have as money; certainly no better than a promise for work not yet done (bonds). Really, I don't care. Money is a vote of confidence. Well, in support of gold it actually has other uses (electrical, jewelry, etc), whereas bonds are just a broken promise, and a lighter, away from nothing.
Regardless, of what money "is", one thing is very clear to me. That is the fact that gold mining stocks (unhedged) have put in very dramatic bottom reversal pattern. This simple fact is in opposition to your argument. I am not confronting your position, as I do not have one myself. Having said that, I will state, chart patterns are not 100% and can fail.
Retrospect will always prove one side of an argument. For now, gold seems bent on disproving yours. For what reason, I can not say. |
