Comments on: Has gold been trumped? Fri, 05 Dec 2014 11:27:18 +0000 hourly 1 By: jobonard Sat, 01 Oct 2011 14:55:59 +0000 Gold is just another commodity. Nothing more nothing less. Where is it going? I don’t know. Bob Kehl

By: 1goose2u Sat, 01 Oct 2011 13:28:20 +0000 “Last year’s winners will often be tomorrow’s losers.”

That is true, but who can argue with gold being a winner for the last ten years running? What have stocks done in the last ten years? They have done far worse.

By: Gregory8 Sat, 01 Oct 2011 12:32:04 +0000 I just bought Penny Stocks this past summer, in two gold mining operations. One of them is now 20 Cents per share and is going up, it looks like.

Don’t buy the gold, buy the gold and silver mines.

In the latter times, people(s) will be throwing their gold and silver into the streets. They are commodities, think of them as such, instead of being the backing of a money system.

By: 1goose2u Sat, 01 Oct 2011 05:49:14 +0000 John F. Wasik is a columnist for and author of The Audacity of Help: Obama’s Economic Plan and the Remaking of America.

That’s all I need to know.

I agree with ram80, gold is not a replacement for food or water, you buy that ahead of time and have some gold around because all the paper money will be worthless by that point.

By: gruven137 Sat, 01 Oct 2011 04:41:39 +0000 I never thought Silver would ever go under $30 an ounce. What a bargain. Looks like it’s time to start stacking physical again.

By: Sinbad1 Sat, 01 Oct 2011 01:23:27 +0000 Gold appears to be replacing the US dollar as the international currency of exchange. This is obviously bad for the value of the US dollar and the US financial sector, so the US through some agent is selling gold to make it look unstable and push people back to the greenback.
It wont work, it just made gold cheaper for central banks all over the world and reduced US holdings of the yellow stuff.

By: HarriPSG Sat, 01 Oct 2011 00:27:00 +0000 You can deny it as much as you can but gold will alway be gold. When the catastrophe hits and there is no more governments, when states and society collapse, paper bills will only be worth paper. Gold on the other hand will buy you water and bread.

By: Hilaire Fri, 30 Sep 2011 22:47:10 +0000 The author writes of gold: “It doesn’t pay dividends, has no intrinsic value and is no replacement for bread and water if catastrophe strikes.” Therefore he doesn’t regard it as a “real investment.”

Ridiculous assertion. Euros, Swiss Francs, Federal Reserve Notes, and every other fiat currency have no intrinsic value, pay no dividends (and even interest paid on such holdings doesn’t result in any real ROI), and are not replacements for bread and water if catastrophe strikes. Yet people invest every day in different currencies to hedge against risks in other currencies and to manage the maintenance of purchasing power. People also invest in various commodities that pay no dividends, either to hedge risk (if they produce such commodities) or simply because of the potential for capital appreciation.

People hold a certain amount of their “investment money” in fiat currencies and currency equivalents – and some may choose to hold some of that in gold rather than such currencies.

By: rarn80 Fri, 30 Sep 2011 22:33:01 +0000 There are some things wrong with this article. Let’s start shall we?

1.) you wrote that gold “is no replacement for bread and water if catastrophe strikes”

John, you are confusing 2 very different topics – investing and survival preparedness. People can’t reasonably expect to store their life savings in the form of food and water. This is simply impossible for most. Some argue that gold helps your “Financial Survival” in case bankers and politicians turn out to be untrustworthy. But really, who can imagine a banker or politician as untrustowrhty 😉

2.) The whole Donald Trump security deposit thing.

I’m not sure why this is a negative for gold. The man is a billionaire. I am even willing to go so far as to say he knows more about money and investment than you do. Shocking, I know, and I’m sorry 😉

3.) You didn’t mention the main reason for gold’s sell-off.

Liquidity was needed. Margin Calls. Stop-Losses. It is easier to sell off a winning investment for the quick cash needed to make a margin call, than a bank stock that’s down 15%. Many traders didn’t plan on selling their long contracts, their pre-arranged stop-losses just did it automatically.

4.) Gold not an investment.

By your definition, cash is as useless as gold. I am not talking about money deposited in a bank, but real paper bills. But unlike gold, cash is easily manipulated, because someone can simply add a Zero to the end and voila! It’s worth ten times the value. I guess it goes back to the trust factor.

By: Bitwise Fri, 30 Sep 2011 22:02:25 +0000 No intrinsic value, really? That would come as a real shock to the many and varied industrial users of gold. In fact gold has been worth something far longer than any paper currency has…far longer.

That being said, I think it’s currently way overpriced and due for a big correction! Silver, on the other hand looks very attractive…much to the chagrin of everyone I know who deal/deals with gold.