Hello Maurice, good morning, and it is, as morning follows morning, another DDGU day:0)
<<total importance of gold to the world>> ...
You have, once again, mistaken facts that are obvious for truth that are more obscure.
The total physical gold outstanding, shares in mining companies, plus even derivatives are not very much compared to the amount of fiat paper overhang, and that precisely is the attraction of gold which has withstood the coordinated attack by many sovereign states, and remain exactly where it is and was, able to buy today what it was able to buy many moons ago. How important is this magical quality? We are about to find out:0)
<< … how excited can you really get about gold in comparison with all other assets?>> …
Progressively more excited, just like old times, 2 days up, one day down, three days up, two days down, five days up, one day down. The pattern is different from that which backs Q. Listen to the market, it is trying to speak to you.
<< … Chanting the mindless mantra that gold is good won't make it so>> …
You are wrong again, but perhaps not surprisingly, because of your faulty premise and leaky logic. Chanting begets chanting, begets awareness, agitation, realization, movement, panic, and leads onward to mania.
<<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>> …
How is this different from anything else in life?
One more time, gold is money of the sovereign state of Gold, without wanting politicians, pervasive falsehoods, needy electorates, or crushing obligations. Or, if you prefer, gold is the equity share of Gold Company Unlimited, without thieving management, cooked books, fried employees, or, gee, again, crushing obligations.
Have a DDGU day, and many happy returns. Chugs, Jay |
