Smarty_Pants

Gold Price and Gold Volatility

Shiv wrote:

"I cannot bring myself to invest (or speculate) in a commodity for which I can see no future."

And yet I'll bet your bank account is denominated in dollars, whose future most likely isn't very good given that the FED and Treasury are handing out Billions to everyone around the globe trying to forestall the complete collapse of the dollar-based economic model.

Gold has been an accepted store of value to all cultures for at least 5000 years. The dollar has only been around for a couple hundred years and already people are starting to wonder not IF, but WHEN it will become nearly worthless.

Are you sure that's where you want to put your 'savings'? Germans used to burn bundles of Marks because they could get more heat out of the currency than the wood it bought. Zimbabwe recently dropped TEN zeros off their currency (1 new $Z = 10,000,000,000 old $Z).

If you feel confident that the $10 Trillion (and growing) US debt will be paid off soon and not grow exponentially over time, then you should be fine. However, you might want to review this article before making up your mind:

www.321gold.com/editor...

Just wait until the 'Boomers start retiring and collecting Social Security and Medicare benefits. At that point they will start draining money out of the Treasury instead of contributing to it via payroll taxes. The debt will balloon like nothing you've ever seen.