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Germany also continues to take back gold.
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Posted 11/22/2014 20:18 (#4194939 - in reply to #4194886)
Subject: RE: Missing the Point

How many times do I have to say that I have no argument with John viewing gold as an insurance policy? And, no, I don't believe I said that people who have been bullish gold are crooks. Some of the promoters who hype it as something that can only go up are most likely crooks, but again, you take something I wrote and willfully twist it.

Of course, the politicians and bankers are crooks. I don't think anyone here has said that more than I have. Has there been inflation? Of course. But is gold the best investment? Maybe. Maybe not. Over the last couple of years, how have your gold investments faired against someone who had money in stocks? Gold is just another commodity. Money is just another commodity, and we've seen clearly how supply and demand has controlled interest rates recently.

Sure, currencies have a finite life. Of course. Who would be dumb enough to argue that point? But to think that gold is this special investment that is like an insurance policy where you do not have to worry about who writes it is nuts.

If you really think of gold as a "safe haven" - I believe that you should think about what the world would look like if gold really does go to where the people who have been hyping it for so long say it must go. If you think the politicians and the bankers *have to* allow you to hold your gold, I have to say that you would appear to be naive.

Again, just my opinion, FWIW.
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