Mr(z) long-gone,
Your past posts indicate you will not believe anything anyone says, except that the gold reserves the U.S. holds in storage are gone. You don't believe Summers, or Greenspan, or the other people responsible for the inventory, and you didn't believe this article,...
http://www.iol.co.za/news/newsview.php3?click_id=81&set_id=1&art_id=ct2000050320221263F632520
<<But Turk said in his latest report that he had now been convinced that the gold reserve was properly accounted for.
At the end of March the US treasury said that 97 percent of the gold held at Fort Knox had been audited and that the audits included physical counts of the number of bars in particular compartments. The auditors also drilled into the bars to check that they really were solid gold.
Turk said that, when he began his investigation last August, he had an open mind on the question of whether the gold in Fort Knox was really all there.
"I think I have satisfied myself ... It would appear that the gold reserve is intact, safely stored in Fort Knox and other storage sites," he said.>>
One of the debates on this thread is whether gold is just another product(commodity,...whatever), or is some special material enhanced with magical charms that can solve all the world's ills, particularly the so-called problem of fiat currencies. My thoughts are, it's a little bit of both, depending on human thoughts. It oscillates back and forth reacting to the current state of human psyche. In times of war, upheaval, fear, depression, and most of all greed, it gets its magical powers back. At the moment its powers are tarnished,...and it's just another commodity subject to the laws of supply and demand,...buyers and sellers.
In any event, this argument on U.S. gold reserves is a big waste of time for me. I prefer to spend my time analyzing junior companies,... miners, techies, internuts, biotechs, or whatever, to try and buy the next rising star. I buy a bunch of some promising junior with a good story, and some positive momentum in the upward direction, and as soon as it gives me a 15-20% price increase (which is only 15-20 cents on a $1.00 stock,...surprising how many such stocks do that) I sell down to a few thousand near freebies and move on to the next study. I call it the "turtle method" of stock investing,...slow but sure. It's amazing how many of these pieces of crap suddenly spike up in speculative fever, allowing me to sell down to a thousand or less shares and book a good profit. I always keep some,...just in case they climb above $100,...like Bre-X (gggggggggggggg).
I should point out that any time I have fallen in love with a stock or commodity, or tried for the "Big Kill",...I have always been squished.
FWIW,...just some Sunday thoughts,....have a nice day :-)))) |
