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

To: Mike Johnston who wrote (76637)3/21/2008 5:17:13 PM
From: benwood  Read Replies (1) | Respond to of 116555
 
This past week, gold is -99.6% on an annualized basis:

0.90 ^ 52 = .004

Oops, forgot about inflation. Make that -99.7% <g>

Seriously, that won't keep up. But gold is much more volatile than the clownbuck. And in the past year, gained in global buying power versus the buck losing considerable buying power.

For the insult of 'saving' your dollars, you'll be taxed. At least your gold can in theory maintain it's buying power without being raided annually.



To: Mike Johnston who wrote (76637)3/21/2008 5:55:05 PM
From: blazenzim  Read Replies (8) | Respond to of 116555
 
Definition of Money:

Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts.

How does gold fit this definition of money?

Gold isn't money anywhere in the world.

Gold is a state of mind and a status symbol. Goldbugs planning for an economic apocalypse hope that gold becomes money sometime during their lifetimes.


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