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To: dollarbull; Toddsterpatriot
$400/oz later...yep, it's a store of value.

Hey a blast from the past --a four month lag time is hard on the old memory but we were talking about how gold isn't money because it's not a unit of account and it's not a medium of exchange.  We were also talking about the fact that no matter how many times this is said. the info never makes it across so that's why I asked Todd to see if he could explain it.

Looks like nobody can get it across, seeing how after four months not even Todd could clarify it.

btw, that "$400/oz later" is a fantasy.   November's close was $1,372 and yesterday it was $1,427.   The math is easier for me to do than explain but I get $55.  While that may be a 13% annualized rate of return, we get a -81% annualized rate if we look at how gold's fallen since last Wednesday.  A serious look tells us that precious metals are not a 'store of value' when the amount stored changes at rates jumping from +13% to -81%.

158 posted on 03/05/2011 4:47:57 AM PST by expat_panama
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To: expat_panama; Toddsterpatriot
btw, that "$400/oz later" is a fantasy. November's close was $1,372 and yesterday it was $1,427.

Nice try. How about November 2009's price, which is the date of your post to which I'm replying?
159 posted on 03/05/2011 8:15:14 AM PST by dollarbull (why are paperbugs so bad at history?)
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