Is it not already time for someone to be called to task? To see who should be accountable for these painful losses?
Why should someone else be responsible for your losses. YOU take the risk of owning any "investment". YOU take the responsibility of risk assessment and losses. Gold is a metal which has limited utility. For some reason, people used to associate it with wealth and no longer do, to the same extent. Who took it on the chin for that? Banks which had accumulated large quantities, over extended periods, out of habit and ignorance. Guess what? Some smart people realized that as an investment, gold sucks. That doesn't mean it is worthless; it just means it is being demonetized. It will trade as a commodity, and as such, cost of production and actual demand determines the price you will pay for the shiny stuff. Until the huge repositories have dwindled, to the level where supply actually equals demand, gold will trade with a negative price bias.
I don't mean to get on anyones case about this, but trying to find blame for an investment that goes south requires nothing more than a mirror. Hey, I've lost money in investments too. There are no guarantees in life, remember? Insurance isn't free. Gold was insurance against the corrosion of value in paper assets. It unfortunately (for the buyers), turned out to be a poor choice of policies. Some smart bankers realized that, and took their losses. Guess what, if gold is selling at $1,000 an ounce in the next few years, those same bankers will kick themselves for selling.
What is an investment? You "store" some of your labor, in exchange for the belief that you will benfit later on, in a way that was more beneficial than your simple labor could produce on its own. What does gold offer? A few miners enjoy employment. Other than that, it's pretty. It has some useful electrochemical properties. That's it. Invest your money in something that's more functional, if you're unhappy with the returns your seeing on your investment. That's my two cents. I'm sorry if this opinion differs with anyone elses. That it is all. Thank you. |
