CJJ

It's 'Hammer Time' for Gold

Forgot all about your shadowstats comments. Shadowstats has always had inflated stats compared to the Government. Like right now it says we are still at a moderate inflation.
Its unemployment numbers are off the chart. Which is my biggest beef with shadowstats. For a "contrarian" type site that is supposed to think outside the box it seems convienient that Shadowstats believes everyone is "underemployed" that claims to be. And that it really believes that all unemployed people are actually trying day and night to get jobs. And the BIGGEST thing it just ignores is the under the table economy, which could be 4-10% of the overall economy.
Hey, if you're going to tout such a "special" site at least understand that it is designed to paint a dire picture. Maybe it should be called "ItsAllAConspiracyStat...


On Apr 09 03:59 PM GMiki1 wrote:

> Yes, the gold advocates do have alternate opinions. In fact, they
> were predicting an economic collapse for a couple of years before
> the collapse occurred, and when no one else was. The reason gold
> advocates have such alternate economic views is that most follow
> Austrian economics and not the theories of Keynes. By the way, most
> follow the inflation statistics at Shadow Government Stats and not
> the federally published statistics. The view of inflation by gold
> analysts is much more radical than 8 to 10 percent in two to three
> years. And that's why we invest in gold.

It's 'Hammer Time' for Gold

Whoa, so now gold advocates as a whole predicted the economic downturn. How broad are your strokes? How big is your canvas?

Jesus?

On Apr 09 03:59 PM GMiki1 wrote:

> Yes, the gold advocates do have alternate opinions. In fact, they
> were predicting an economic collapse for a couple of years before
> the collapse occurred, and when no one else was. The reason gold
> advocates have such alternate economic views is that most follow
> Austrian economics and not the theories of Keynes. By the way, most
> follow the inflation statistics at Shadow Government Stats and not
> the federally published statistics. The view of inflation by gold
> analysts is much more radical than 8 to 10 percent in two to three
> years. And that's why we invest in gold.

It's 'Hammer Time' for Gold

Okay so you have given reasons why people buy gold. Fine, no problem with that or the reasons.
However because people have these fears does not make them true.
Also gold holders never actually answer important questions like
If the fiat currencies actually failed, what value does gold retain? Minute quantities are worth a good bit of money. It would quite hard to split it up enough to match what it was worth.
It is also very probable that things like food would become much more valuable than gold and that would occur very quickly.
The only reason people pick gold is that it lasts. Well that would be great if A)We lived thousands of years ago or B)We all lived for thousands of years.

I have no problem that people invest in gold, actually it makes 100% sense for some portion of a diversified portfolio to have metals and commodities. But goldbugs should be just as afraid of a complete breakdown as everyone else. Perhaps goldbugs are just hoping for a really, really bad downturn. But that begs the next questions, wouldn't you do just as well or nearly as well if things kept on keeping on.

Fear has its place and time in the world, but a world based on fear is a disaster.



On Apr 09 06:10 PM huskerbob wrote:

> More than an indicator of inflation, gold is a measure of confidence
> in paper money and the economy. Most were lulled into comfort by
> the performance of the economy after gold's peak, which became the
> greatest economic expansion in world history.
> Now the blinders are off and people are forced to see that the economy
> has been built on a foundation of sand. Governments have not inspired
> confidence with their reactions. Gold is a an assurance of something
> with tangible value. Paper promises have lost the seeming solidity
> they had in the 90's.
> Gold buyers fear inflation, but more so lack confidence in the management
> of our currency and the promises of the equities market.