When asked does he think gold is a good investment…
Greenspan: Yes… remember what we’re looking at. Gold is a currency.It is still, by all evidence, a premier currency. No fiat currency, including the dollar, can match it.
Come now, if you have Alan Greenspan on your side, you’ve already lost… a day late and an ounce of gold short…
I guess all those silly central banks with their gold reserves must be wrong as well.
Ah, Alan Greenspan and Central Banks… are you sure you’re strengthening your argument?
I’m not saying gold is good because Alan Greenspan said so.
I thought it was obvious in my initial post… why is Mr Greenspan all for gold now?
And I thought my answer was clear too, because he’s always wrong…
But didn’t he always advocate against gold, why did he change his mind I wonder?
John Greer makes the excellent point that in a post- apocalypse world a gold stash will just make its owner a target for literal cut-throats. When Roman Britain collapsed the gold boards that many households had failed to confer any meaningful advantage to their former owners.
Yes, I’ve said that previously to people: if real gold were to become money again then it would be the people with the weapons who would be wealthy, not the people with the gold.
Of course, the gold nuts in America generally try to cover both angles!
But it’s really just an ideology for these people, there’s ultimately no point in arguing the underlying fundamental merits or lack thereof.
If anyone is hoping to buy a seat on the last bus with gold, then (according to a Serbian acquaintance) you’re better off buying wedding rings to keep in your go-bag. Most thugs will assume that you won’t have more then two and won’t follow you home or torture you to see if you’re hiding anymore.
Incidentally. I’m astonished at how many people I know actually have a go-bag.
Now that makes sense - you always want to look as if you are paying your last, most cherished item…
Its funny how it’s always the anti-gold crew who keep yapping about an apocalypse when discussing gold! Its the same boring dogma repeated ad-nauseum. I certainly didn’t buy gold back in 2005 because I envisaged an apocalypse, a market calamity yes and we certainly got one of those. I see another one coming in the not to distant future so Ill hang on to some gold for another few years yet. That’s all gold really is in investment terms, an alternative currency or a useful sort of insurance for when you get a big crisis and people panic which was very much proven in 2009-2011. And sure, there are greater fool analogies one can draw but you can apply that to just about any financial market.
I’m not anti gold at all. As an Armageddon asset I’d rather have a crossbow, but in case there’s another financial wobbler, I might be glad i invested a bit.
Why not get both, a gilded crossbow?
That’s a bit flash. I was thinking more Daryl Dixon then prince Joffrey.
Dutch move 122 tons of gold out of USA.
I like this line …
Translation : the Dutch Central Bank joins other banks in taking their gold back from the USA.
It would rally a lot harder than $50 if that referendum passes.
It would also end the EUR/CHF peg. You couldn’t have both the peg and a gold requirement.
The CHF would strengthen so much it would be insane.