Quote:
Originally Posted by Incinerator
I think he's hiding gold bullions under his mattress...remember fiat currency is worthless! buy gold!  |
haha, nice man, I mean I am not a gold-freak at ALL but you do know that if you had been entirely in gold the last 6-12 months you would have outperformed virtually any other main stream investment, right?
And if hyperinflation hits after this deflationary spiral, gold will perform even better (likely doubling your money while most lose 50% in value on theirs).
So while I agree the fiat-money guys are hilarious and over the top, making fun of anyone who is not a bull on equities like that could come around and bite you in the ass? Even if gold never rallies I am not a gold-guy so the insult/joke is meaningless, and if it does rally you have opened yourself up needlessly to looking stupid?
If I was in the US I would probably own some gold though? But it is a different scenario when it is priced in your home currency. As a Canadian I can play against the American dollar just by saving Canadian dollars.....
Like that article I posted a while ago pointed out though, with the amount of debt being converted/socialized into new currency by world governments, currency valuation will be the new way to play the markets going forward. The DOW might surge 50% but the USD could collapse -- meaning the rally is an illusion.
Claeren.