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Strategies & Market Trends : Heinz Blasnik- Views You Can Use
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To: Wyätt Gwyön who wrote (695)5/5/2003 3:26:53 PM
From: dvdw©  Read Replies (2) of 4912
 
Darfot you said; thus I see gold partly as an insurance policy against a coming bear market in fiat currencies, and partly a speculative bet on an increasing (re)acceptance of bullion as a legitimate asset class. just marginal changes are sufficient to keep me bullish. in the severe scenario you envision, I think we will all have other worries besides how our portfolios are doing.

Have you ever read Zachariah Sitchen? He's a guy who wrote the only logical explanation for Gold that I've ever read. In the past particularly in the 70's I though what you think now as stated in this post. Today I find that Sitchen makes the only logical argument for gold and Sitchens scenario is extraterrestrial.

This isnt to say that gold will, wont, cant, make a portfolio money, but in comparison with for instance patents issued ahead of products, which will soon yield real therapies or useful innovation to process or objects, their asset values are far more compelling than any case for gold.

The fiat currency argument is diminished in the main by demand expansion for the purpose of liquidity. A desire to hold value as a medium of exchange, that can meet the needs of the widest numbers of transactions.
Gold metrics are too small to allow for this, and further the carrying costs of holding such a scarce physical commodity such as gold, actually lessens its value as a medium of exchange, especially in crisis.
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