BTW: The exact language from barrons is gold is "border-line useless", so I stand corrected for the record. I here they make cool coins and dealers like to sell you them for commission.
I read this article. It is really an op-ed piece. This guy provides no facts or information other than some statistics about what happened the last time gold reach a 7:1 ratio with the Dow and that has been 3 times in the past and 2 times gold went down and 1 time gold went to a much lower ratio. And even then his timeframe for statistics was 5-10 years, hardly a valid timeframe upon which people need to consider holding in todays market.
You must take everything with a grain of salt and recognize that the media world today is designed to give both sides of every argument (except when it comes to George Bushs point of view) even if one of the sides has little or no merit.
In fact, I argue that the 2-sided media approach is intentionally setup to obfuscate the facts and keep the public confused. I have learned the only way to have an intelligent opinion is to do some research for yourself. Otherwise, even if you listen to an "expert" how would you know that their information isnt slanted or biased. You wouldnt. Even having an opinion based on some "experts" opinion is not really "informed", it is just a guess.
More... Since most Americans dont read anymore there is little more than pictures, images and sound bites to impress one view over another on most folks. In this case, since it is in Barron's Magazine it must be true.
I say, let the gold bears keep snorting. I am happy with my investment decisions and I am doing better than most folks and I imagine this is true of most gold holders. if people are willing to let someone else think for them then they deserve what they get!
Gold's performance requires no interpretation; look at a chart and the facts speak clearly. Compare it to the major averages and there would be little reason to be in the market compared to gold. Yet others want to write and tell me I should sell or that "Gold is worthless". Very well then, you stay in the valuable market and I will hold my worthless gold. See you at the end of the rainbow!
Good Sunday morning everyone!
In the 70's I read a book called "How to prepair for the comming crash". It was the exact same story we hear today. Exact. Never happened. But, it really could this time...
"Ironically, Alan Greenspan was an early critic of fiat money arguing in his essay, Gold and Economic Freedom that,
This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard. "
Quite Ironic that the man who made this statement is also the man who is principally responsible for the inevitable collapse of the dollar.
Jeepers I'm no gold bug, but ""border-line useless"? I mean, it’s a metal that doesn’t corrode, is an excellent electrical conductor, is extremely malleable and ductile, is extremely dense, and many find beautiful. Usless?