Pundits will say that Gold is a lousy investment and they’re right. The problem with their thinking is that Gold is not an investment; it is sound money and should be regarded as such, not with contempt as is routinely the case in the mainstream press corps. So as we begin another September, a time of year that seems to bring out the worst in our financial and banking system, I will say it again – Gold continues to be the opportunity of a lifetime.
SHOOT: With the dollar becoming more worthless every day, what can we use as a reasonably stable measure of something worth something? Metals, and energy. Gold, platinum, copper to some extent, silver, and oil stocks. Mark these words.
SHOOT: With the dollar becoming more worthless every day, what can we use as a reasonably stable measure of something worth something? Metals, and energy. Gold, platinum, copper to some extent, silver, and oil stocks. Mark these words.
I will point out that Gold is not an investment; it is money. However, for those who insist on comparing Gold to stocks, I will point out that in the year since the last article, Gold is up 25% while the Dow Jones Industrials are down 19%. Detractors will point out the new bull market in stocks. I’ll counter with the fact that stocks are merely in the middle of a countertrend rally within a bear market while Gold’s correction last year was a countertrend move within a bull market. Detractors will point to the save-haven status of the Dollar during times of economic distress. I’ll counter with the fact that Congress has ensured that the Dollar will die of nearly two trillion cuts – in FY 2009 alone. Must we really continue this? The Dollar is the ultimate example of counterparty risk as it relies on the responsible performance of government and monetary authorities to maintain its value.
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