Booms, Busts, and Recoveries Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Booms, Busts, and Recoveries

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: LLCF who wrote (19950)	6/18/2002 5:38:20 AM
From: Maurice Winn	Read Replies (2) of 74559

DAK, you can figure out the total importance of gold to the world reasonably easily. Step 1: Find out how many ounces of the stuff are now above ground in somebody's possession, then multiply it by $300. Step 2: Add up the value of everything else in the world which has some transactable value convertible to dollars, using today's market price. Step 3: Divide the second number by the first. My guess is that the rest of the stuff that people own is worth thousands of times more than the value of the gold. So, how excited can you really get about gold in comparison with all other assets? Chanting the mindless mantra that gold is good won't make it so. If speculators are lucky, they'll get a speculative boom in gold. If they are not, they'll be left holding another boring depreciating commodity, of which there are a lot. Mqurice

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next