tag:blogger.com,1999:blog-8515247115132134144.post2391306749657726569..comments2024-02-17T12:34:01.400-08:00Comments on Illusion of Prosperity: Gold: Four Reasons It Lost Its LusterStagflationary Markhttp://www.blogger.com/profile/04568993350246477976noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8515247115132134144.post-70580281002124348642014-11-05T20:33:42.981-08:002014-11-05T20:33:42.981-08:00Absolutely!Absolutely!Karlohttps://www.blogger.com/profile/15647211317186049289noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-65271914128989683722014-11-04T10:17:49.103-08:002014-11-04T10:17:49.103-08:00Karlo,
When I bought in 2004, I told myself that ...Karlo,<br /><br />When I bought in 2004, I told myself that I would only buy them once and sell them once. The time to sell came in 2006 for me. From there on out, I was/am done.<br /><br />Did it make sense? It was like playing musical chairs. As with all exponential trends, eventually the music stops. It's a fairly dangerous game for supposed safe havens.<br /><br />Had I been an investor in the late 1970s, gold and silver could have easily ruined me. With inflation running so high, it would have been hard to not to buy and hold at the wrong time. I tried to learn from that theoretical mistake.<br /><br />All I wanted was an inflation hedge. They gave me many, many years in the short time I owned them. Recent investors? Not so much.<br /><br />Dangerous. Mad Max would not approve. Canned goods are a better safe store of value. No greater fool needed and you can eat the inflationary gains tax-free!Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-72837546453084782352014-11-04T06:36:03.327-08:002014-11-04T06:36:03.327-08:00While I can understand someone wanting to have a s...While I can understand someone wanting to have a small amount of gold or silver, the idea of hoarding gold never made much sense to me. In the end of the world scenario people keep talking about, gold seems like it would be worthless. It's just heavy and you can't do anything with it. I'd much rather own my nice Kifura backpack and a good pair of boots. (Not that they would save from a severe crisis either, but even so...)Karlohttps://www.blogger.com/profile/15647211317186049289noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-46108495507105216212014-11-03T17:22:05.742-08:002014-11-03T17:22:05.742-08:00Sporkfed,
Fees do pose a problem.
When I owned p...Sporkfed,<br /><br />Fees do pose a problem.<br /><br />When I owned physical gold, I paid a small premium to buy it and a small premium to sell it. I therefore told myself that I'd only be buying it once and selling it once. There was no way I was going to actively trade it.<br /><br /><a href="http://www.nasdaq.com/symbol/gld/etf-detail" rel="nofollow">GLD</a> currently takes 0.4% of your gold each year (in fees).<br /><br />It may not seem like much but, after 30 years they will have taken 11.3% of the gold (0.996^30 = 0.887)Stagflationary Markhttps://www.blogger.com/profile/04568993350246477976noreply@blogger.comtag:blogger.com,1999:blog-8515247115132134144.post-43953179850649800702014-11-03T16:53:22.837-08:002014-11-03T16:53:22.837-08:00I think people paid a premium for gold and sold go...I think people paid a premium for gold and sold gold at <br />a discount in most cases. That was bound to dampen <br />enthusiasm when there is no interest paid to hold gold<br />SporkfedAnonymousnoreply@blogger.com