that stimulated me to post ... and to sneer right back - how arrogant of you to presume a thing can be measured only in your fiat currency
Then, my arrogance served its purpose as it got you to come out of the underground rabbit warrens of the tiny mining stocks for a bit of fresh air and, as you readily admit, stimulation.
The chart was one-sided and biased. I am not sure a proper one can be made that would reflect the truth because gold was artificially pegged at $35 per oz. for several decades while the Dow went up/down, crashed, etc. In any event, I am wary of charts which prove this or that point. Like Twain, I think there is the truth, there are lies, and there are statistics, which IMO include charts.
My point, made later more explicit, is that nothing is an inherent, eternal store of value. History shows that we deposit our faith into any number of silly things, from cowrie shells to tulips. Gold falls into the same category but has simply had a longer shelf life.
In many more years, when we make AI strong and are able to engage in space travel, our fascination with this blood-drenched Barbaridad Azteca will seem quaint. Of course, this is only a grand Chestertonian puff of warm wind which affects our daily lives not one bit, so I have no quarrel with those who plunk their money down on whatever they choose. Good luck to all of you.
A prudent investor probably is well-advised to round out his portfolio with a taste of it, but it is equally prudent IMO not to pay too much attention to gold's siren song.
Elmat and Mq are feuding, DJ has disappeared - hope he is OK - and TJ is, well, TJ. |
