I say again, the value of gold is entirely based on psychology and psychiatry, and not on economics or physics. You can get hurt really bad buying the stuff.
RE: I say again, the value of gold is entirely based on psychology and psychiatry, and not on economics or physics.
Would you rather put your trust on a piece of paper with ink added to it?
I wish you had told me that BEFORE I bought in at $850/ounce with half my savings.
You should have said "heavily" not "entirely" Buying water before a hurricane is also heavily a matter of psychology and psychiatry, as most people who buy water won't need it. Indeed, the vast majority.
Gold is going up because the dollar is going down and because everyone knows that bonds are about to be greatly devalued by inflation.
When Time or Newsweek starts touting gold, then I'll get out. I just don't know what I'm going to get into yet. That is the real problem.