Claude, you and I are on different pages regarding gold. No big deal. It happens.
You write >>> But it will not change the current macro-economic picture. This cycle is peaking. Unfortunately. <<<
Possibly but not necessarily. And if it has peaked and we are headed into an abyss, I'm not sure gold will be the best hedge. To each their own.... but I'll take a piece of unencumbered real estate and a full tank of heating oil as the better and more practical investment...LOL
You also write of gold >>> It is not to guard against financial crisis. This is what the establsihement would like you to believe so they can tarnish its nobility. <<<
By nature I'm a contrarian. I like going my own way. I'm not sure what establishment you refer to and what it wants me to believe. Some would say I am part of the establishment. Whatever, I do know what you want me to believe and I don't buy it. Gold is not noble - it's a metal. Those advocating gold as money are not noble - they are human and in my opinion, quite misguided. To me, such thinking ranks on par with the Flat Earth Society, man cannot fly, there is no cure for polio, etc, etc ad infinitum.
Claude, there's really no sense in my typing a long rebuttal to your post. I'm a slow typist, you'll never be convinced, no purpose served. But here's an unfortunate fact.
On Monday morning, there will be some who silently hope the NYSE crashes. If that doesn't happen, they'll hope the U.S. dollar crashes, or the nikkei crashes, or the yen falters, or a large bank fails. Whatever the reason, they'll shed crocodile tears but silently applaud anything that threatens Western economic institutions as we know them.... and vindicates their belief and paltry investment in gold. Sounds incredible but it's true.
That's why I'm cheering for "Big Al" as some like to ridicule him. That's why I'm hoping our institutions and currencies hold. That's also why I think some goldbugs should look hard in the mirror and into their hearts. What some see may not be so noble.... but instead very ugly.
There's nothing wrong with holding gold and there never has been... but there is something wrong with some who hold it and there always has been.
Bob |
