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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (40737)	11/10/2005 6:16:09 AM
From: shades	Read Replies (3) \| Respond to of 116555

yada yada, and so why is gold rising in price, as in stopped falling in value? You can't eat it, you can't rent it out to a newlywed couple so they can raise a family in it. You can't even get the anti-bacterial fun from it like you can silver. I went to walmart yesterday, my kraft foods products were a little higher, some towel papers, and my propel water all up in price. My persimmons went up a little too at Publix. I need those things - remember what you preach - "rising prices in everything you NEED." IE - food, clothing, shelter no? Then on up maslows hiearchy. My dad needs some kidneys and the technology to clone one or grow a new one - GOLD won't help him with his dialysis will it? As Greenspan pointed out, its only real VALUE is that some other human being THINKS he must possess it to TRADE with you. But that is its only power - MEME control. Sino-Russian trade will move away from US dollars to the nations currencies that is more efficient and have products and services in need and demand. A BASKET of currencies if you will. One friend is buying IRAQ dinars - he believes it is backed by oil and that is a much better base than gold or US gubbment promises. What he really NEEDS though is the oil - not the currency - I sent him a copy of mad max 2 - the road warrior - they burned up all thier oil to get to an island - hehe. Gold as you think of it is a MEME carried from thousands of years back when finance and trade were VERY DIFFERENT from today - as the REAL world that created that MEME changed, the MEME did not in people like you. Time to get with the program. In the computer/information age we all know GM does not make good cheap efficient cars, they have unfunded pension liability, that the man in china only pays 1.27 for his Big Mac where I pay 3 bucks economist.com I don't need to hold GOLD to know that my purchasing power is preserved and the dollar may fall. The asian/south american/russian currencies where the growth will happen can be purchased - real assets that I can consume, use, or rent to others to do the same can be purchased. I have a friend that had 12 million in tax free municipal bonds. He sold some of them, bought a farm, has lots of pigs, cows, and chickens on it right now and even a couple mexicans to work it for him. He likes big BBQ meals. I guess he took to heart your preaching "rising prices in everything you NEED" but he did not buy gold. He even has a silver bracelet I think. While you eat your sandwiches and scones - ask yourself what service, good, product can you provide that will be in high demand in the future that others are willing to trade thier sandwiches and scones for it. If I am eating my sandwich at the nice hotel lobby and you want to give me some shiny gold for it, I don't think we are going to do much trade General. However if you have some nice prune juice/popcorn cocktail perhaps I may wish to make and exchange. Gold doesn't CASH FLOW - so it's off my list of investments.