Thoughts On Gold, My Favorite Doorstop
I don't talk a lot about gold and there's a reason for that. Here's something new readers might not expect me to say based on my penchant for playing the boy who cried "black swan": gold is useless.
It blows my mind that we've singled out one shiny metal as the safe haven asset par excellence.
It's not so much that I buy the whole "barbarous relic" thing. Using the term "relic" suggests that at some point in history there was a rational argument for why something was useful. I mean if it's a "
I do believe there is more than one Indian, who wished they had held gold or even the more pathetic silver than those ultra stable govt. backed 500 and 1000 rupee notes
Those rupee notes do burn well though.
H-love the rant about gold. I wonder why all those wealthy people and their $$ managers buy so much of gold and throw it in their vaults?
If it dips like in December I will buy it again. I’m not going to hold it for some dystopian future, just until I can make some decent money on the trade since the longer term downside risk is minimal with a cheeto in charge.