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

To: TobagoJack who wrote (93246)	8/9/2012 8:04:20 AM
From: KyrosL	Read Replies (2) \| Respond to of 217754

Yes, the past 10 centuries were turbulent, rule of law rare, property rights vague or nonexistent, wars prevalent, etc. But in any particular human lifetime even in those centuries there were investments that were clearly superior to gold, especially after the Renaissance in Europe. But we should be looking at the next 10 centuries. Globalization makes war extremely expensive, the rule of law is spreading beyond the western democracies, property rights are understood to be key to economic advancement, and technology and science are exploding. All these make investments in productive assets very attractive. Resource scarcity will not be a factor in another 30 or 40 years, when the earth population will start decreasing, and green energy technologies become cheaper than coal and oil. I don't see a long term future for gold in such an environment.