The price of gold plummets, even as deranged millionaire John Hodgman champions the timeless allure of a drab gray, crash-proof carcinogen.

Wednesday April 24, 2013, 05:54

Category: Gold & Precious Metals, Video

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

2 Responses to “The Golden Rage”

  1. olephart says:

    Gold is not an investment just as fire insurance on your home is not an investment. Rational people do not hope to collect on either. For gold to reach its maximum value that is where no amount of gold regardless of how small can be purchased any amount of currency regardless of how large all other non-tangible instruments must go to zero. For the typical investor a zero percent holding of gold requires a 100% confidence in the government issuing the currency his investments are denominated in. The percent of one’s portfolio in gold is therefore inversely proportional to one’s confidence in government. The preceding applies only to physical gold. Paper gold is simply a speculative tool much like the numbers on a Roulette wheel. Shares in mining stocks assume the government is capable of saving itself and the economy from its own disastrous policies prior to its total collapse.

    The political situation today is such that one political party has openly stated its intent on destroying the Federal Government and the other has demonstrated it is incapable of preventing that. The Federal Reserve continues under the delusion that it has matters under control and will continue to be relevant.

  2. dsawy says:

    I confess that I’ve never grok’ed the goldbug fixation. it’s just another commodity, with some historical relevance.

    WRT to the Stewart piece: Helium is actually getting quite pricey. Ever time I think about getting a bottle of it for my TIG welding rig, I’m put off by the price, which just seems to keep going higher and higher and higher every year. So I might as well stick with argon and turn up the heat a bit.