- This topic has 14 replies, 5 voices, and was last updated 12 years, 7 months ago by
The-Shoveler.
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February 12, 2012 at 11:53 AM #19504February 12, 2012 at 12:45 PM #737781
scaredyclassic
ParticipantGold isn’t an investment. It’s insurance.
February 12, 2012 at 12:49 PM #737782ParticipantBuffetts stated holding pd is over the next century!
February 12, 2012 at 12:57 PM #737783ParticipantGold won’t go to bajillion. But there’s a better chance it’ll double in the next 5 years than the stock market.
February 12, 2012 at 3:45 PM #737799Anonymous
GuestThere’s also a better chance that gold will lose half its value in the next 5 years.
Much better.
February 12, 2012 at 3:55 PM #737802markmax33
Guest[quote=pri_dk]There’s also a better chance that gold will lose half its value in the next 5 years.
Much better.[/quote]
With all the printing and problems with fiat currencies right now? I just don’t see how that’s mathematically possible.
February 12, 2012 at 6:30 PM #737816ParticipantI would assign the probabilities at 37 percent that au dips below 1000 in the next five years and 58 percent that it exceeds 2750. There is a 10 percent chance it will exceed 3,300. And a four pecent chance it will be below 800.00.
Some time in the next 12 years I would say there is an 85 percent probability it will exceed 2500.00.
However I had trouble in calculus so I would ignore what I just wrote
February 12, 2012 at 6:32 PM #737817ParticipantThere is a 75 percent chance that someone you know will be swinging indian clubs on the next five years
February 12, 2012 at 8:32 PM #737822SK in CV
Participant[quote=markmax33]
With all the printing and problems with fiat currencies right now? I just don’t see how that’s mathematically possible.[/quote]Because mathmatically or otherwise, gold doesn’t have significantly more intrinsic value that paper money.
I haven’t read the link to Buffet’s opinion, but I’ve heard him say similar things in the past.
February 13, 2012 at 7:24 AM #737833ParticipantIt’s true right now, but sometimes it’s not. Gold endures, paper systems come and go, add a zero, change into euros, etc
why do central banks hold gold?
Answer:
February 13, 2012 at 12:51 PM #737880davelj
Participant[quote=walterwhite]It’s true right now, but sometimes it’s not. Gold endures, paper systems come and go, add a zero, change into euros, etc
why do central banks hold gold?
Answer:[/quote]
Tradition. The same reason lots of folks go to church on Sundays.
February 13, 2012 at 1:24 PM #737883Guest[quote=walterwhite]why do central banks hold gold?[/quote]
Why do peacocks have big colorful tails?
It has no practical use. In fact, it’s a liability: The tail makes it easier to get caught by predators and dragging that thing in the dirt increases chances of infection.
Hint: What would happen to the one peacock that was born without a big tail? Would he have a better chance of “survival?”
February 13, 2012 at 1:47 PM #737889ParticipantYou say tradition like it’s a bad thing.
Money itself only has value because we respect it, it is traditionally accepted.
The substance with the longest most widely accepted tradition of acceptance is gold.
February 13, 2012 at 1:55 PM #737890Participant[quote=walterwhite]You say tradition like it’s a bad thing.
Money itself only has value because we respect it, it is traditionally accepted.
The substance with the longest most widely accepted tradition of acceptance is gold.[/quote]
No, I’m not saying tradition like it’s a bad thing. I’m merely stating – factually – that it’s nothing more than tradition. That the tradition has held for very long period of time doesn’t change the fact that it’s still… tradition. If it makes you happy then I’ll add that “there are far worse traditions”. At its base, however, it’s still a religion of sorts… albeit a long-tenured one.
February 13, 2012 at 2:23 PM #737893The-Shoveler
ParticipantBack in the day (6 or so thousand years ago), it was hard to find stuff that stayed shiny and was easy to mold into shapes.
On second thought now that I have the urge to toss my career and go operate a Sluice Box boat on the Bering Sea, it’s probably not a good sign. -
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