Rarebird: <That statement reveals very clearly that you know very little about Gold.
I support wholeheartedly all the vicious gold bearish critiques against your position>
Thanks rarebird, I love you too. On some islands they have used big boulders as currency in the past (some as big as a car), but tough to use when you want to buy milk -- so they now use -- you guessed it -- paper money!! Sure, gold plays a role in the currency system, always has and perhaps always will. The value of the dollar is pivotal in understanding the price of gold because the dollar has tried to replace gold as the mainstay in the global financial system. That is not the issue -- the issue is whether or not stocks are "savings", and here I think the record is more straight forward -- stock certificates are not "savings". They are a contingent claim on the residuals of a company -- whether that is in the form of future earnings and/or assets. If the company has no residuals, then you, as a shareholder, have nothing.
Owning gold, the metal, could be "savings" if you view it as the ultimate currency -- a view held by some and contested by others. Most of us don't use it to buy milk, but that is a matter of convenience. It can certainly been seen as both currency and as a commodity used for other purposes -- which I agree with. Understanding the currency role is, no question, central to gold pricing. Understanding its commodity value is important also.
As for supporting people who are vicious -- it is not important to me if you like to hang with people like that. Personally, I find people with scum in their mouth unappealing. And when they intentionally puke their scum all over me -- well, I have trouble respecting people who applaud them -- which I guess means you.
Best of luck to you. |
