A mate from Sydney just sent me this SMH article...... It is very sobering! http://www.smh.com.au/business/worl...ld-bugs-lost-their-shirts-20140109-30iud.html
What an appalling article. Not one of their ten facts has anything to do with gold but relate to market truisms. If you buy physical gold (and other PM) over time none of these 10 so called fact apply. Lose my shirt ?? What a load of BS. Nothing sobering here !
The fact that the article is 'mainstream' shouldn't matter. It does contain some valid points, but isn't the be all and end all of the Gold debate.
9 got me......And now I'm really wondering what I am doing on this site??? Where's all the 'hyperinflation' the so called experts have been talking about for soooooo long now???..... And wheres the massive devaluation of the USD the experts have been talking about for soooooo long now??? This is gunna go on for 20 years just like Japan did and PM's WILL NOT be required! Not to mention a NWO electronic currency taking place of PM's???
What a total crock but I'm not surprised to read such crap in newspaper articles confirmation bias also applies to the average newspaper reader who wants to feel ok that they never got into pms
I deleted my post. Since you appeared to be in such distress about your PM's, I was actually going to offer to buy your stack from you.
Hey wrcmad so you think it's rational an good economic practice to print money and monetize the debt. It's leads to economic recovery and wealth creation for all. I am not critical of sceptics, I am critical of insanity. This is clearly an article written by a paper bug probably a silver fish. Lost my shirt hahahaha. That hurts almost split my shirt. Keep investing in paper there are a lot of silver fish that need to eat. Please don't believe what you read in the Sydney newspapers, after all I only buy them so my puppy has something to aim at.
Very good point. But, as it's mainstream, it uses mainstream logic, the most striking piece of typical mainstream evidence used by the author of this article for me was: Only if you believe the government line. :/
So commodities have no fundamentals ? I guess all the world's oil, coal and copper companies just operate at random then. They just toss a coin when deciding if they should spend a few billion opening a new mine. What a totally stupid thing to say.
I apologise. I didn't realise what a raw nerve my jest had hit. I never mentioned anything about money printing and it's effects. That drum has been beating for years (No. 1 ). And FYI, I bought physical gold last night. However, your reaction reinforces the point of the article to some extent. While I don't take seriously the line that gold bugs lost their shirts, I think the article has some legs - for the most part, it merely lays out good investment philosophy for most investment classes. No, they don't just toss a coin or operate at random. Investment decisions are, however, based on "whatever the next guy is willing to pay for them", and projections (best guestimates) of this number. Simple demand/supply. As you know, I am an advocate of supply/demand and market dynamics. It works for me, and always has. I don't buy the theory that the fundamentals of gold are based conveniently on one single monetary supply figure of a chosen nation - in my mind, this tired argument does not amount to "fundamentals", it is merely an isolated data point of convenience and last resort. Stupid? What stupid? Geezus, you guys need to relax a bit. This is exactly what No.10 spells out plain and clear.