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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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To: dollarbull
Nice try

You're way overestimating my abilities here, I should thank you for the compliment of assuming that I actually intended to confuse the dates there.  OK, I'll admit that the Nov. 10 number had nothing to do with my trying anything, I was totally oblivious to the fact the link went back to Nov. 09 when gold closed at $1,126.

OK, you say gold is a store of wealth because since Nov. 09 gold had an anuallized 21% rate of return --the math may be hard to follow if you're taking Friday's $1,427 and saying it's $400 more than $1,126, but bear with me. 

While that may be a 21% annualized rate of return, we get a -81% annualized rate if we look at how gold's fallen since last Wednesday.  Store of wealth --hey, are you still there?

163 posted on 03/06/2011 4:18:22 AM PST by expat_panama
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