Forum Archive Index - February 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi gooner,
 
> 
>http://www.gold-eagle.com/gold_digest_02/taylor020603.html
> 

There is a typo in your reference.  It should be:

http://www.gold-eagle.com/gold_digest_03/taylor020603.html

But at last I think I understand what you gold guys are on about.  

Demand has collapsed in the US (apparently), and you think we are 
headed for a period of deflation.  The US Fed is trying its darndest 
to see that that won't happen by making really easy credit available. 
This has resulted in plunging interest rates, and a whole lot of nwet 
savers trying to find this money a new home.

But you don't think this is going to work, and that the US people are 
going to look around and look for things that hold their value, like 
gold. 

So here is my question to you gold guys. Why do you think Mr and Mrs 
Joe Public is going to buy gold?  

Why not stash away a few drums of raw crude oil instead?  That is 
increasing in price too and it is at least useful to someone else 
over and above aesthetics?   Why not diamonds?   They are rare too 
and much easier to cart around than gold.  Why not buy a herd of 
prime cattle?  They will hold their value and at least you can eat 
the things when things start getting tough.   Why not buy property? 
Property has a far better wealth generating record than gold.  Why 
would anyone try to protect their net worth by buying gold?

SNOOPY





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