I Love Gold
By Barry Ritholtz - August 16th, 2010, 1:15PM
Hat tip Jesse
Tweet
Facebook
Reddit
Digg this!
Comments
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
August 16th, 2010 at 2:04 pm
Hard core salesmen (Banking money centers) just don’t get it.
August 17th, 2010 at 4:18 pm
Ha ha! I think I know that gold bug!
August 17th, 2010 at 10:04 pm
Little biased, don’t you think?
A proper response for the gold customer should be:
I want gold because it’s a recognizable asset world wide. The US (NYSE) is not the center of the universe. Once the giant Ponzi casino crashes and I’m forced to hop on a potato boat (yes, we don’t have bananas) to Asia to find work and safety, I want to be able to barter when I arrive. If I’m stuck with your “low interest” casino chips and pachinko balls their value will be zero! But if I have gold, the local market will have a price discovery mechanism (whether fair or not is not the issue) and as such I’ll be able to buy a loaf of bread and rent shelter (hopefully more).
The moral of the story is, gold holds value outside the casino gulag of the US borders, whether fair value or not is up to the market to decide.
~~~
BR: Your response is even better than the cartoon!
October 7th, 2010 at 9:17 am
[...] I Love Gold (August 16th, 2010) [...]