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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (23472)	1/28/2003 12:18:19 PM
From: Oral Roberts	Read Replies (1) \| Respond to of 57110

Well that makes you one of them gold boogers then doesn't it. I kill myself:)

To: Jorj X Mckie who wrote (23472)	1/28/2003 12:47:55 PM
From: X Y Zebra	Read Replies (2) \| Respond to of 57110

warning... gold rant As a former critic of the concept of gold, (up until about a year ago, plus or minus), at times making fun of friends of mine who are far more rabid Randian nuts, I will give you my .02 cents. First, I have to say that although I agree with your fundamental arguments you have stated, for practical purposes, I have to accept the reality of the market. Second, in the "productivity arguments" you mentioned, there is an important point to mention; namely: The main premise that in my eyes gave strength to this argument was that gold was a medieval relic as it produced nothing OTHER THAN establish a value based on the discipline it would force upon politicians NOT to continue to PRINT more paper. The way I understood this new found productivity argument, was that regardless of what politicians would do, the business men would make up for allowing third world countries to bring themselves out of their sorry states into a more modern world, creating a win-win situation for the industrialized west and these third world places. So, we had the "new economy" and all that jazz... (including going into debt in such an irrational way, for both companies and individuals --not to mention wild, wild speculation in paper assets) But then, as the hard realities of the third world began to materialize, i.e. all those billions of people never really having the $$ to be considered consumers, or even caring to be consumers, since the great majority are just trying to eat, never mind the new gadget or its communication speed... or buying a burro in pets.com at a discount... CEO's began to lie... or create the concept that pro-forma earnings is a solid and valuable concept... Of course, along came greed, from both CEO's and "investors" alike. Result ? Loss of TRUST... And that is where we begun, and where gold gets its value. The businessmen proved to be as corrupt as the politician, therefore, we, as a human race, could not graduate from the medieval and barbaric concept of gold serving as a store of value for our coin and shield from the barbarian politician and businessmen, who erode our savings. Therefore... I, too switched sides, realizing that we are still barbarians. We lost our chance to truly be productive and create this new world of increased productivity, which although real in terms of capacity to create wealth, we still failed by NOT keeping the value of TRUST. Businessmen failed in the very same thing that we criticized politicians... they could NOT be trusted any more than politicians can be. We lost our chance... sad, but true.