What I have against gold is that morons repeat the same mistakes. In 2001 they though stocks were fundamentally worthless when their market collapsed, so they reallocated/dumped their money into real estate instead -- thinking real estate was "more real" in terms of foundational value. Now that the real estate market collapsed, we have the same clowns dumping into gold.
Some idiots will never learn that bubbles can happen with anything of presumed value. Just because it's gold doesn't mean it's not going to fleece a lot of people in a bloody crash like real estate or Wall Street stocks.
What I have against gold is that morons repeat the same mistakes. In 2001 they though stocks were fundamentally worthless when their market collapsed, so they reallocated/dumped their money into real estate instead -- thinking real estate was "more real" in terms of foundational value. Now that the real estate market collapsed, we have the same clowns dumping into gold.
Some idiots will never learn that bubbles can happen with anything of presumed value. Just because it's gold doesn't mean it's not going to fleece a lot of people in a bloody crash like real estate or Wall Street stocks.
Gold is much different from paper. It's actually had value for centuries, there is only a limited quantity of it, and it has consistently held value through periods of economic turmoil in both inflationary and deflationary environments. Gold is much, much different from stocks and paper currencies. The real bubble is in equities right now, funded by the US dollar carry trade which will probably end ugly.
I wouldn't knock gold if you are holding US dollars.
Just got got home, from cinema with a shitty movie (with an awesome russian though ), fancy cafeteria and couple hours of clubbing. Got ze number of a really hot waitress in in that cafeteria without even asking for it, sorta
That was my reaction before the goal : , then I found everyone jumped off their chairs when the ball was crossed...and I was like this
Then gooooooooooooooaaaaaaaaaaaal...I jumped out of my chair hugging everyone, even people I don't know. I started screaming till I lost my voice completely till now.