Why gold is a bad investment (MarketWatch)

[PatColo]

Blasphemy! ;D Actually it's good "wall of fear" stuff, thanks for putting it out there, MarketWatch! 8) 2 pages, bunch of pictures/graphs etc, read @ link,


Why gold is a bad investment (http://www.marketwatch.com/story/why-gold-is-a-bad-investment-2010-11-12)

Precious metal lures susceptible buyers into a Midas crush

[mamboni]

Blasphemy! ;D Actually it's good "wall of fear" stuff, thanks for putting it out there, MarketWatch! 8) 2 pages, bunch of pictures/graphs etc, read @ link,


Why gold is a bad investment (http://www.marketwatch.com/story/why-gold-is-a-bad-investment-2010-11-12)

Precious metal lures susceptible buyers into a Midas crush


Another hit piece on gold, full of the usual canards, half-truths, misinformation, distortions and glaring omissions. The author's ignorance of gold's history as money is painful to behold. The shallowness of his critique is astonishing. Given that this is a mainstream information source, I'd say that the gold [and silver] bulls are a long long way from running their courses, given this author's shocking disconnect from economic reality. Mark my words: the author of this anti-gold screed will one day buy gold at much much higher prices; and beg desperately for the privilege. For some, wisdom and knowledge are acquired only through experiencing great pain and suffering.

Thanks Pat. This stuff is most instructive.

[TheNocturnalEgyptian]

It's just silly on it's face. Anybody can get the 5-year or 10-year chart for gold and say, "Holy shit! I was missing out!"

I'm not saying anybody should buy in at the top. I'm just saying it's ridiculous to claim gold is a bad investment. With inflation guaranteed, gold as a good investment is also guaranteed.

[1970 silver art]

“Gold is going up because people are buying it, and people are buying it because it’s going up,” said Leonard Kaplan, president of Prospector Asset Management in Evanston, Ill., and a longtime gold trader.



Blah Blah Blah Blah Blah.





Gold has no untapped intrinsic value; it is worth only what people are willing to pay for it. And lately, many people have been only too willing



Blah Blah Blah Blah.

And since the FRN is backed by the full faith of the U.S. Gov't, then that counts as intrinsic value. :sarc:

This is just another gold basher on the MSM. Nothing to see here. Move on.

[PatColo]

Blah Blah Blah Blah Blah.



I also liked the line,

"... It is considered a store of value, an alternative currency that’s safe beyond reproach, but it is not cash in the bank, or even the mattress. " :baa


uummmm, YEAH! :lol :plll

[Silver Rocket Bitches!]

That was an incredibly weak article if their premise was "why gold is a bad investment."

They listed half a dozen reasons why gold IS a good investment!


gold is still well below its 1980 peak, when it was worth around $2,300 an ounce in today’s dollars.


Gold may be a good speculation; even cautionary voices concede that gold is not yet displaying the parabolic hockey-stick pattern that frequently forms an ugly bubble


If the U.S. dollar continues to decline, gold will be a main beneficiary.


The Federal Reserve’s easy-money “QE2” program announced earlier this month has riled and rallied the gold bugs.


the Fed’s desperate punches and the greenback’s weakness since the financial-market meltdown in 2008, coupled with sovereign debt and economic-growth concerns across developed Europe this year, has created a perfect storm for gold.


gold may be more popular but it is still not widely owned, and the prospect of more people following the yellow brick road transports gold bugs, appropriately enough, to a real-life Oz.



Was this supposed to convince me not to buy gold? :conf:

[ShortJohnSilver]

If you buy gold you are strange and weird, and you want to be the sort of person who fits in and does not rock the boat.

[Filthy Keynes]

If you buy gold you are strange and weird, and you want to be the sort of person who fits in and does not rock the boat.


I only listen to "well-known economists who have won prizes". :) (from the cartoon video that went viral a couple days ago)

[Half Sense]

The 30 pages of comments were the real meat.

[platinumdude]

gold was a bad investment. Silver was the good investment.