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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: UncleBigs who wrote (50634)1/21/2006 3:06:02 PM
From: Claude Cormier  Read Replies (1) of 110194
 
I agree that spending on war is just plain useless.

As for producing gold to store it in a vault, it certainly appears to be very unproductive. But miners are still doing it because there is demand. It is not because Americans, unlike Indians and Chinese, are not hoarding gold, that it is the right thing to do. Obviously, Indians which have 15-20% (or so) of their net asset in gold believe that it make complete sense to spend to dig gold out of the ground so they can accumulate more.
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