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Gold/Mining/Energy : Gold Price Monitor
GDXJ 99.85+6.2%Nov 24 4:00 PM EST
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To: Eashoa' M'sheekha who wrote (28194)2/13/1999 10:32:00 PM
From: Hawkmoon  Read Replies (1) of 116764
 
What is money?

Interestingly astute question for someone to ask.

IMO, money is an illusion. It is an idea or concept that people accept as a proxy for an actual good or service. Gold as money is as much an illusion as paper currency backed by the full faith and credit of our government. To deny the credibility of a nation's currency, especially the US dollar, is to question its government and people productive worth.

When that occurs, gold may not have much value either.

Now for your questions, in sequence from calling a bottom:

1.) no

2.) no, and neither can you.

3.) " " "

4.) no, but would appreciate any direction to relevant sources.

5.) only what I read here and a few other locations.

6.) only what has been stated here and a few gold related sites.

7.) Good question. India seems to the prevalent consumer of gold.

8.) Absolutely, if that uncertainty undercuts the entire financial system and especially the primary reserve currency, the US dollar.
But preventing rising gold prices would be a focus of CBs trying to prevent that feeling of uncertainty from becoming prevalent.

9.) Only if I was worried about inflation and not deflation. I prefer term life insurance over whole life insurance. I prefer cash over gold, since eventually that gold will need to be converted to cash and I don't have to worry about gold being declared a "strategic metal" and confiscated as occurred in the '30s.

10.) If I bought it anytime in the past 16 years? ABSOLUTELY!!! Gold has lost value relative to most other storehouses of value that have greatly appreciated.

11.) heirloom values are strictly relative and extend to many items that cost far less and sell for far more. Eg: Barbie dolls in mint condition from the '50s.
con't...
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