Gold

[Daytr]

Logen ninefingers, I suggest you put Skol on ignore. I played along with him for a while but it got boring as apparently gold should never go up. It took me a while to decide to do it, but imo his comments offer no value. I like seeing alternative opinions to my own as there is usually something that can be learnt or at least it makes you re-check your own logic or predictions, but I found over a relatively short period of time I was just wasting my time on a barrage of negativity. Make up your own mind of course, but I suggest, enjoy the serenity!

[Skol]

You don't have a case. You are pointing to the prevailing trend and attaching your whole viewpoint to it: that does not make you an oracle. Your fundamental arguments are redundant and will expose you to ridicule as soon as the trend reverses.

Looking forward to it, lots of people have put me on ignore for the last few years, but I'm right and you're wrong and the trend shows no sign of reversing. LOL

There's a storm coming up in the Gulf of Mexico Logan, time to change tack and think about all those oil wells that will be shut down, there's always some disaster on the goldbug radar.

And BTW LN, do you think Obama or 'Obummer' as the goldbugs call him wants to go down in history as the President that oversaw a US default?

[Logen Ninefingers]

Who is that says gold is what it is worth though? The market does.

and what happens if tomorrow bitcoins become the new standard? or indian sandalwood? or unobtainium? the notion that gold is THE standard is quite outdated this day in age. humans are extremely fickle and weird, and any new currency or commodity could easily replace the USD or gold.

gold may seem like a good store of wealth now, but remember, its only worth what the market pays for it, just like every other item on the market. its not different this time.

Gold is not road metal that I can go and scoop up in a wheel-barrow. It is a relatively scarce metal that has to be hard-won from the ground. I'm not talking about "new standards" - I'm talking about tangible assets, as opposed to *shares* , *****coins* or whatever. Indian Sandalwood not doubt has intrinsic value, as would Unobtainium - were it a real 'thing'.......it sounds pretty scarce, the name suggests it's close to unobtainable.

Will there always be a market for houses? Yes. Will there be a market for a scarce malleable metal with a huge range of applications accross a broad spectrum of human activity? Yes.

[Logen Ninefingers]

The underlying economy has nothing to do with the US crisis of governance. They don't default, and - hooray!! - the Fed's 3.5 trillion balance sheet goes away!!! 17.66 trillion in US debt vanishes!! 85 billion a month in new funny money evaporates!! I don't think so. This governance crisis and it's resolution are a charade, just like the huge US equities bubble pumped up on stimulus. - Don't be daft. They are screwed!!!!!

You are like someone saying to the look-out on the Titanic as the ship is 2 metres from the ice "she'll be right Jake. These things never hit 'bergs". How much of an ostrich can you be. But just because all the other lemmings are jumping over a cliff.....

[Daytr]

And don't forget shiny! Gold is shiny! In reality gold makes no sense, however man has shown that their ill discipline with the fiat currency means that there is a requirement for gold. Gold also has thousands of years of history & if you ask the Rothschilds or any of the old families of Europe I am sure they hold a substantial amount of gold as does the Chinese & the Indians. Anyone that says gold's day is done is either not only the smartest man in the room but the planet, or the opposite. The POG will fluctuate, but gold will exist as a store of value whilst man lives & breathes.

[Skol]

Many don't share the goldbug view, the SPDR Gold fund is down another 4 tonnes in the last 4 days. If anyone wants some gold there's 901.7 tonnes available, down from 1,500 tonnes.

There's a lot of angry goldbugs out there who think they should be rich, but alas, it isn't going to happen.

[Logen Ninefingers]

Haha skol, equities will be obliterated like Alderaan by the Death Star. Why get on a gold thread and pooh-pooh gold when equities are headed for the mother of all crashes.

[Logen Ninefingers]

Gold has been under attack from Western banks while China has been on holiday. This is nothing more than market manipulation in support of the US peso.

[elZorro]

Can I just say here, that I might be tempted to scour the web for positive articles on gold, and that's certainly interesting, even if not objective.

http://www.ibtimes.com/chinas-gold-f...-kicks-1413202

[Skol]

Gold has been under attack from Western banks while China has been on holiday. This is nothing more than market manipulation in support of the US peso.

Yeah, we all know it's not your fault you're losing money it's someone elses, I've heard it a 100 times before. lol