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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 (76647)3/21/2008 6:31:25 PM
From: blazenzim  Read Replies (2) | Respond to of 116555
 
Gold performed beautifully as a store of value as it went from $850 to $250 over 20+ years.

Gold is not a medium of exchange anywhere in the world.

I own gold and wish it were money. Despite my wishes, it is not money.

There are times to own gold and there are times to sell gold. Last Monday was a great time to sell gold.



To: Mike Johnston who wrote (76647)3/22/2008 3:34:48 AM
From: mishedlo  Respond to of 116555
 
Money is a means of transacting trade, it is not a store of value.
Gold is a relative store of value vs fiat currencies is the best I will admit and then only in the very long term.

Mish