lets see since early 2000's gold is up almost 5 folds, now show me any mass consumed item which price went up 500% in the same time? All my groceries are up maybe 50% at best, gasoline is up maybe 200%, electronics and other durables are at the same level or even cheaper than 10 years ago. New car prices are pretty much at the same level they were 10 years ago. Bought 2010 Corvette for only 12% more than I bought one in 2001. The moral of the story is that I'm not spending 500% on my bills from what I been spending 10 years ago. So this infaltion talk is pretty much BS and the gold run of late appears unsubstantiated as well.
Your entire post is based on looking in the rear view mirror -- gold is a store of value (unlike the many items you listed which are consumed) and it is telling us something about the present and the future -- namely that the product (paper money) of an incredibly large centralized government that thinks it can defy the laws of gravity (economics) isn't going to be worth a can of beans.
Proves what an imbecile you are.
A worthless, depreciating, polluting hunk of metal in your driveway certainly bears less value than the ultimate currency of all time sitting in my vault. Stay short, genius - I enjoy watching American yutzes such as yourself get hosed.
there are many reasons why people are buying gold. inflation is just the most recent one. some people are buying gold because they think deflation is coming. some people just want to keep some gold because of the global instability. well, you get the picture....
Yeah. I totally agree. It is total BS. I am down over $700,000 on my gold short and my wife left me but I agree with you. Its total bs. I am going to just pretend it didn't happen. It didn't happen, right? Right??
the point of my post was that gold wasnt the proxy of inflation in the past 10 years as it should've been, i doubt we'll have 500% inflation in the next 10 years as well.... there's a huge bubble that is building in gold
no one believed there was bubble in tech in 1999, in oil in 2008 and gold will be next in 2010.