<<You continue to assert that I'm on some kind of mission to convince people to stay away from gold.>>
You have said so yourself - though in a PM.
I have? Please share that PM with us all...
I have REPEATEDLY STATED Richard, that I think gold is being subsidized by the Central Banks through their monopolistic control of the market.
I have REPEATEDLY STATED that I would love to have all gold traded in a free market, which means the CBs must sell their holdings.
I have REPEATEDLY STATED that gold serves a function in case the current financial system breaks down, or if there is another World War, or global disaster (comet, meteor, massive earthquakes.. etc).
I have REPEATEDLY STATED that I would prefer to see price of gold trade much lower ONLY as I look at it as an insurance policy against the above and I don't believe in paying too much for insurance.
Right now, I think the price is too high since I don't see the economic risk that other's claim to see. I certainly don't see the unfettered printing of Fiat currency or hyper-inflation risk. And I didn't see the risk of Y2K created an all-out economic holocaust that would exceed the conditions of a minor recession. Yet all of the gold-bugs were urging people to buy gold coins, sell all of their stocks, etc, etc.
We're closer to a recession than we are to unfettered manic growth driven by reckless govt/Fed policy. In fact, that policy has been overly restrictive in my view.
And in recessions people buy bonds or go to cash. It would take a depression of some magnitude for gold to look good. With a deep depression in the dominating economy, namely the US, the perception would be that the govt would have to print trillions of dollars in order to prime the pump and get things going, spurring growth not only domestically, but overseas.
Again, please show us all the PM that contradicts anything that I have stated above. If you can't, shut your mouth. This has gone beyond a being mischievous disagreement in views Richard. When you start calling me a liar or impugning my character publicly without providing evidence, it takes on a completely different tone that benefits neither of us.
The only mission that I'm on would be to provide the logic and evidence that would provide a unsuspecting public to get sucked in by the conspiratorial arguments of the goldbugs.
And while you're at it, bookmark this post and review it each time before you decide to personally attack my or misquote my perspective on gold. |
