The concept of sarcasm in the form of irony to mock or convey contempt is completely lost on you, isn't it? You would be best to befriend the likes of The End or GC. You would get on well with these guys.
Not at all. Faith is belief without proof and I reckon you've got to have a lot of faith to think that whatever earned you income in the past will continue to earn you income in the future. If it's a business, it might fail. If it's property, maybe nobody will want to rent it. If it's a loan, the borrower could default. These things happen all the time, but nobody goes into business knowing it will go bust or lends money expending it not to be paid back. You look at what happen in the past, weigh up the risks and jump in hoping the venture is successful. You don't see anything you could call 'proof' until afterwards and if we could foresee the future then we wouldn't need insurance. An ounce of gold today will be an ounce of gold tomorrow. No faith required.
Agree, money is essentially a "promise to pay a bearer on demand". Precious metals have no third party credit risk. Seems like a good insurance policy in case the SHTF
"...Dahl sold 1.5 million Pet Rocks for $4 each..." from https://en.wikipedia.org/wiki/Pet_Rock. Sometimes what seems like a stupid idea to others is not really that stupid. Edit: That is $6million in 1975, according to the RBA (though I'm aware that isn't an Australian story) it's equal to $40.5million today. Though I suspect that PM's have a lot better reasoning behind the investment.
It's a bit like saying cash is a pet lump of wood pulp. It is not, it is cash. Equally Gold is never a 'pet rock' but money. Gold holds wealth like a battery stores current and it does it for thousands of years. Cash is more akin to a flowing circuit. I always think that these articles are preceded by an ivy league reunion between two fraternity mates, one a journalist and the other a partner at a brokerage. After they have finished their starter conversation turns to business and one lad say that the retail brokerage trade is dying and that if only all these people buying gold and land would run up a margin in his brokerage and others with their capital and invest in facebook the economy would be saved. Next day a gold is a pet rock article arrives.
"I never tire of reminding Joe that gold is not a "rock" it's a metal. My work never ends." - Jim Rickards.
metal that is found inside rocks crushed to dust then cooked into solid gold, but it was inside rocks before born into the metal of the sun
