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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: patron_anejo_por_favor who wrote (59534)	4/25/2006 8:13:04 PM
From: Wyätt Gwyön	Read Replies (2) \| Respond to of 110194

I got a better chance of buying a fine suit with an ounce of real money than with 8 barrels of crude......<G> well, from a practical standpoint gold is pretty useless as money; maybe marginally less useless than oil as money, but that's a distinction without a difference. you gotta lot better chance of buying a suit with a piece of plastic or a handful of depreciating green paper than with an ounce of gold. go into your nearest mall and see how many stores will recognize your gold as money. see how many restaurants will take an ounce of gold instead of $622 or whatever the spot price is. see how many $622,000 houses you can buy with a thousand ounces. gold is just as useless as oil when it comes to real world transactions, or what 99.99% of people think of as money. so, gold is basically no more money than oil is, and over the next hundred years oil will increase in value relative to gold because oil is something that will become increasingly scarce, and it is also something that is necessary. imo, no matter how you slice it, oil is a much better store of value than gold for the 21st century.