posted on Oct, 2 2004 @ 05:29 PM
Gold is true money, has been for thousands of years. All through history governments have been debasing currencies by just printing more and more of
it without limit. Gold has kept its value through wars, social upheavals, depressions and natural disasters.
Think about this. An ounce of gold will buy you a good suit of clothes. That was true in roman times, through the middle ages, and now.
Now think about dollars. A dollar today buys about as much as five cents did in 1900. If you had kept an ounce of gold for 100 years it would still
buy the same amount of stuff. A dollar kept for 100 years is worth nothing now.
Bankers hate gold because they cannot fake it, or print more of it. Gold ownership in the west is being actively discouraged. The Asians and people in
the Middle East are smarter and are accumulating significant gold RIGHT NOW.
The US government would love to make private ownership of gold illegal. But wouldn't that look bad ! In repressive communist countries like China
and Russia, the governments are actively encouraging ordinary people to buy private gold. In free democratic America, illegal gold, what a joke.
The US dollar is on its way to becoming almost worthless, any smart person would be buying gold, silver, or mining shares right now, while those US
dollars are still worth something.
But just remember, a piece of paper is just a promise to pay. A dollar, a cheque, or a gold certificate are all just paper promises. Real gold, coins
and bullion, in your own hand is the only SURE way to store wealth. Electronic gold may or may not be a scam. Like Enron, electronic gold can just
suddenly disappear.
On other interesting point. Almost all the gold ever mined is still around somewhere. All the silver ever mined is being rapidly consumed in
industrial uses. There is far more gold around than silver these days. Pretty soon the price of silver is going to increase far more dramatically than
the price of gold. It may even be worth more than gold one day.
Ha-ha-ha, I hear you say. Well think of Platinum. It was worth nothing until its industrial uses made it so valuable. Supply and demand has caused
platinum to be worth far more than gold. In ancient times Gold was number one metal. Not so today. Silver is going to become far more valuable in the
future than it is today, and might be a better investment.