To: KyrosL who wrote (63921 ) 5/27/2010 8:20:45 PM From: TobagoJack 2 Recommendations Read Replies (1) | Respond to why do you not post arguments that are difficult to refute? instead of cake-walk stuff from no one in particular<<Gold is volatile. It's hard to value. It generates no income>> <<Yes, it's a "hard asset," but so are lots of other things—like land, bags of rice, even bottled water>> <<It's a currency "substitute," but it's useless>> <<As for being a "store of value," anyone who bought gold in the late 1970s and held on lost nearly all their purchasing power over the next 20 years>> <<I get worried when I see people plunging heavily into gold at $1,200 an ounce. What if the price goes back to where it was just a few years ago, at $500 or $600 an ounce? Will you buy more? Sell?>> <<Over that period the world has produced—or, more accurately, recovered—far more gold than anyone actually wanted to use. Since 2002, for example, total demand for gold from goldsmiths and jewelers, and dentists, and general industry, has come to about 22,500 tonnes>> <<But during the same period, more than 29,000 tonnes has come on to the market>> <<... In a word, hoarding>> <<A Ponzi scheme>> <<Yes, as I wrote earlier, gold may well be the next big bubble. And that may mean there is big money to be made in speculation.
