Forum Archive Index - November 2003

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

Hi Allan,
 
> 
> I've said before that I appreciate all comments, and contributions on
> this site.  Your input, as well as those of Phaedrus and Lazy Haggis
> are no exception.  I wouldn't be so quick to dismiss gold and holding
> currencies, however, as you have done in this post.  
>

The post I quoted didn't dismiss gold.   It said that the main benefit of 
holding it would be  to people who held most of their assets in US 
dollars.   IIRC Allan, this is a category you fall into, being a US citizen.

The point 'the Wog' was making was that for those who live in Australia 
(and New Zealand) there is no point in holding gold if all of your 'gains' 
are going to be wiped out by the NZD and AUD appreciating against 
the USD.    This fact has never even been *mentioned* by any of the 
'gold bugs' yet it is absolutely critical to profiting from gold.

Phaedrus's gold chart was interesting, but would look very different if 
the gold price was plotted in NZD.

>
> I also hold currency positions in the Aussie, New Zealand
> and Canadian dollars as well as the South African Rand, as a hedge
> against the falling dollar.  So far those positions have been very
> bankable as well.  
>

Just out of interest, how have these performed compared to your 
investment in gold?

> 
> Well I guess all this says is these differing opinions is what makes
> the market.  Keep all the posts coming, one and all.
> 

I may have disagreed with Lazyhaggis and Phaedrus frequently in the 
past, but usually I try to explain why, as I see it.   I may or may not be 
right.   That is for those reading my posts to decide, according to their 
own circumstances.  That doesn't mean I would ever campaign to have 
either of them banned or anything.   On the contrary, having people 
with opposing opinions is what makes this forum interesting.  I agree 
with your sentiment.

Keep all the posts coming, one and all.

SNOOPY




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