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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (57040)	10/29/2009 4:27:39 AM
From: Maurice Winn	3 Recommendations Read Replies (2) \| Respond to of 217588

TJ, if you track gold back to the beginning of time and watch its value, it has two values which vary and intertwine. One is the value it has because, like iron, coal and limestone, it has a cost to mine as measured by a certain number of hours of working instead of sitting in the shade of a tree drinking beer. The other value is the value added on top of that because from time to time it has value as money as a means of exchange. As we see from the value of pieces of paper with ink on them saying "In God We Trust", backed by the "Full Faith and Credit of Whichever Politicians are in Power at the Time", such means of exchange have substantial abstract value. If it said "In Gold We Trust", it's true I'd have more confidence in it. God is a little too abstract for my liking and I doubt that He allocates a lot of time to ensuring the value of US$ remains stable especially when is Free Will wielding primates are on the loose with quantitative easing. Nor does the Full Faith and Credit of any politicians or electorates hold much sway with me. But you know all that. In other words, I am unrepentant, defiant and a scoffing skeptic that gold is other than shiny dirt excavated and worshiped by atavistic Aztecs. Yes, it has speculative value at times. So do many things. Heck, even oil reached $150 a barrel in living memory. Oil was $10 a decade ago so that's a greater increase than gold's minor multiple. Fools and their gold. Fool's gold. Mqurice