John > Only unique in an investment sense. Seems they are more reluctant than most to have confidence in the promises inherent in paper assets.
Promises, promises.
My concern about being a goldbug is as result of my own experience through the 1980-90s when it definitely did not pay to invest in gold. I was attracted, after the event, by the big bull market in gold of 1978-80, when gold ran from $60 to $850, and for many years I dreamed of a similar event happening again. However, after many years in the wilderness meditating on my gold shares , I eventually concluded that it was a one-time happening which was unlikely to repeat, certainly in my life-time. Interestingly, after talking to many different gold afficionados (? bugs) on the internet, in more recent years, I came to the conclusion that there were many like myself who were patiently waiting for the "happening" --- the big pay-off --- the repeat performance. I recently became disillusioned, tired of waiting and sold my gold shares. Now everyone is talking gold again and the old "stale-bulls" who have been locked-in for over 20 years are jumping on their seats with excitement. But I am now a contrarian and a party-pooper. For the first time in many, many years I don't own a single gold share. Free at last.
Still, I don't think I'm wrong. The reasons gold did so well in the late 1970s were unique to that time and involved, amongst other factors, severe, world-wide inflation. Clearly, this does not exist at the moment, in fact, if anything, the contrary, certainly outside the US. (As a point of interest, does anyone really know what is going on in the US? Inflation? Deflation? Everything?)
> based on my reading of some of the more extreme goldbug forums, that these characteristics are often found together - religious fundamentalism combined with a belief in hard work, thrift, self reliance, etc, etc and a love of gold (since it's something 'real' in that psychic framework).
Don't forget a love of and devoted support for George W Bush and a profound hatred of Bill Clinton as well as any mention of the word "democratic". In fact, I am amazed at this love for Bush because I would have thought they would have despised all forms of contemporary government, all of which rely on paper money to carry out their fantasies.
> My all-time favorite investment book is 'the money game' which argues (convincingly imo) that most people aren't really in the market to make money. The market is simply a surrogate by which they play out the life script which is defined by their inner personality.
I remember the book well. It was on my shelf since the 1970s but now I can't find it.
> Is there any better example of this than goldbugism?
You make your point well. Thing is, goldbugs are so easily identifiable and delightful to tease: other varieties of investor personalities are not.
> And since, imo, no one really escapes their role in life defined by their inner self, the only approach is to recognize your 'type' and then hope to use the rationale side of your brain to direct it in a somewhat intelligent way.
I guess I must be a hybrid --- I don't like government and I don't like work. That's why I was attracted to the stockmarket. It seemed like an easy way to make money --- only I didn't realize that the ones who make the money are not the investors!
> But will the game go on forever?
Nothing lasts forever but I see no reason why should it stop now. In fact, as I read it, the situation which pertains today is what the Paper Aristocracy has been working towards for many years where the US banks control the US and, indirectly, the rest of the world. The massive US national debt can never be paid off but is insured until perpetuity by the US government. How would you like to have 300-million people working for you forever? And, what's more, you don't have to pay them --- in fact, they pay you. What a deal.
> Seems to me that within the last few years (and i wonder if this is a result of bubble psychology), the US has dropped all pretense of fiscal/monetary sanity.
I think the bubbles are the result, not the cause. The idea of sanity depends on how one sees things. The problem is that the American people don't realize that their government is the agent of the banks, not their saviour and protector. In fact, if anything, it's more like the Pied Piper taking everyone into the mountain.
> If for no other reason than 'it seems to be working so far'.
Working, not working, who cares? What is important is the printing. "It's the debt, stupid!"
> But right now, in the flush of military 'victory', the world is ours for the taking - we seem to think. And we're grabbing with both hands.
The military is the enforcing agent for the US conquest of the world by means of the greenback. To make the analogy clearer, at one time the dollar was backed by gold, then by the idea of an efficient and productive economy. Today, the USD is backed only by the US military --- and, of course, by the unpayable and ever-increasing US debt. The promissory note on a dollar bill which I saw recently says "Either you take the buck or you get a hiding."
> how are these wonderfully nice, friendly, good, honest americans that i live amongst capable of such heartless, monstrous actions against innocents in other parts of the world?
I'm sure, in this regard, Americans are no different from any other nation. In fact, Americans are a collection from all over the world, indeed, a microcosm.
> I can't help but wonder (unfortunately), how many copies of this book can be found in Rumsfield's pentagon - providing insight on how to manipulate otherwise 'good' people.
As I see it, ignorance, prejudice, fear (following 9-11, anthrax etc) and brainwashing by the media have been sufficient to arouse the anger of the populace which is then directed to wherever the "finger" points. All Rumsfelt had to do was point. Actually, on second thoughts, it was Wolfowitz who did the pointing --- Rumsfelt makes the speeches. And, GWB does what he's told. |
