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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

GLD 387.88

+1.2%

Nov 28 4:00 PM EST

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To: skinowski who wrote (76419)	7/16/2011 5:16:41 PM
From: Maurice Winn	2 Recommendations Read Replies (1) of 218118

Quite correct Skinow. Add to that criticism that it is expensive to mine gold which means much waste of effort to do so. As the price rises, there would be an absurd gold culture, with vast effort going into excavating or otherwise extracting more of the stuff. What a futile occupation. At least moais made nice ornaments around the edge of Easter Island so the effort to produce them resulted in something. Gold just sits stupidly in an expensive bunker [other than the ornamental sort and some material applications such as antenna contacts]. If there was no sensible better alternative, gold might make sense. But there is. Nearly a decade ago, I pointed out that $2,000 would be the US$ distress figure for gold pricing and $10,000 would be US$ replacement value [which in today's dollars would be more like $20,000]. Of course, if it turns into a Zimbabwe style rout, the sky's the limit and gold could be $1 billion per ounce or $1 quadrillion. Mqurice

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