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  • March 24, 2009 at 9:14 PM in reply to: Help w/buying gold #373253
    mrwrong
    Participant

    [quote=SpringSessionM]Why does gold have intrinsic value? Because it is shinny? Think about this for a minute. It is valuable because people THINK it is valuable. How is this any different than a house, a stock, or even “fiat” currency? In more primitive days there was no paper for fiat currency, stocks or bonds, but even ignorant cavemen could be fascinated by shinny objects.
    [/quote]

    If you believe gold has value only because people THINK it is valuable, ask yourself this question. How do you preserve the fruit of your labor when your government is determined to devalue its currency. Do you buy oil? How do you store it? Do you buy food? What if they perish? Do you buy land? Is it liquid? Gold is valuable not because people THINK it is valuable, because it has all the right attributes as a medium of exchange and as a store of value. It is liquid, non-perishable, and can be easily divided and stored. It is for these reasons that gold has withheld the test of times.

    Of course if you believe Armageddon, then all bets are off.

    March 21, 2008 at 2:58 PM in reply to: What am I missing? Is that a train coming at me or am I Chicken Little? #174759
    mrwrong
    Participant

    Don’t you love capitalism? Smart people are having a hard time figuring out how to preserve the fruit of their labor! When unsure, diversify.

    Mr. Wrong

    March 21, 2008 at 2:58 PM in reply to: What am I missing? Is that a train coming at me or am I Chicken Little? #174857
    mrwrong
    Participant

    Don’t you love capitalism? Smart people are having a hard time figuring out how to preserve the fruit of their labor! When unsure, diversify.

    Mr. Wrong

    March 21, 2008 at 2:58 PM in reply to: What am I missing? Is that a train coming at me or am I Chicken Little? #174772
    mrwrong
    Participant

    Don’t you love capitalism? Smart people are having a hard time figuring out how to preserve the fruit of their labor! When unsure, diversify.

    Mr. Wrong

    March 21, 2008 at 2:58 PM in reply to: What am I missing? Is that a train coming at me or am I Chicken Little? #174763
    mrwrong
    Participant

    Don’t you love capitalism? Smart people are having a hard time figuring out how to preserve the fruit of their labor! When unsure, diversify.

    Mr. Wrong

    March 21, 2008 at 2:58 PM in reply to: What am I missing? Is that a train coming at me or am I Chicken Little? #174413
    mrwrong
    Participant

    Don’t you love capitalism? Smart people are having a hard time figuring out how to preserve the fruit of their labor! When unsure, diversify.

    Mr. Wrong

    February 28, 2008 at 10:20 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #162113
    mrwrong
    Participant

    It doesn’t pay to be fiscally responsible in this country.

    Mr. Wrong

    February 28, 2008 at 10:20 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #161801
    mrwrong
    Participant

    It doesn’t pay to be fiscally responsible in this country.

    Mr. Wrong

    February 28, 2008 at 10:20 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #162130
    mrwrong
    Participant

    It doesn’t pay to be fiscally responsible in this country.

    Mr. Wrong

    February 28, 2008 at 10:20 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #162096
    mrwrong
    Participant

    It doesn’t pay to be fiscally responsible in this country.

    Mr. Wrong

    February 28, 2008 at 10:20 AM in reply to: “Renegotiate” Your Loan – banks giving in to buyers in distress #162199
    mrwrong
    Participant

    It doesn’t pay to be fiscally responsible in this country.

    Mr. Wrong

    February 10, 2008 at 2:53 PM in reply to: Carmel Valley Auction #151216
    mrwrong
    Participant

    I have to say that I’m really surprised at this outcome. With the mainstream media turning decidedly bearish on real estate and a recession looming, where are all these people coming from? I just don’t get it. It makes you wonder who is really in denial.

    There is no rationality when it comes to real estate.

    Mr. Wrong

    February 10, 2008 at 2:53 PM in reply to: Carmel Valley Auction #151288
    mrwrong
    Participant

    I have to say that I’m really surprised at this outcome. With the mainstream media turning decidedly bearish on real estate and a recession looming, where are all these people coming from? I just don’t get it. It makes you wonder who is really in denial.

    There is no rationality when it comes to real estate.

    Mr. Wrong

    February 10, 2008 at 2:53 PM in reply to: Carmel Valley Auction #151192
    mrwrong
    Participant

    I have to say that I’m really surprised at this outcome. With the mainstream media turning decidedly bearish on real estate and a recession looming, where are all these people coming from? I just don’t get it. It makes you wonder who is really in denial.

    There is no rationality when it comes to real estate.

    Mr. Wrong

    February 10, 2008 at 2:53 PM in reply to: Carmel Valley Auction #151198
    mrwrong
    Participant

    I have to say that I’m really surprised at this outcome. With the mainstream media turning decidedly bearish on real estate and a recession looming, where are all these people coming from? I just don’t get it. It makes you wonder who is really in denial.

    There is no rationality when it comes to real estate.

    Mr. Wrong

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