Since the Federal Reserve took over management of the US$ in 1913, the dollar has lost upwards of 96% of its value. Is that really the long-term pony you wanna hitch your wagon to?
I would agree with your statement that the relationship between gold and the dollar has been volatile, however I would argue that the volatility is weighted more due to the value of the dollar fluctuating.For instance, lately, the relationship between the price of Oil & Gold has been much more stable than the relationship between Dollars & Oil or Dollars & Gold. Personally, I'm not a "Gold-Bug" because I have the belief that there is a bigger opportunity in industrial metals like Copper and it is much easier for me to understand the supply/demand equation since less emotion is driving the price of industrial metals. I have the belief that the combination of inflation, a recovering economy (Good for industrial metals but probably bad for Gold), & China's recent $600 Billion infrastructure plan will boost commodity prices. I also believe that China's economy will continue to grow (with or without the help of the USA) so I my risk will be minimal. Only time will tell who is right in the long run, but I'm putting my money where my mouth is with copper.
"How the hell is what I said "partisan"? I do not subscribe to the fraudulent left-right paradigm of the War Party."I consider myself a Dem because they *best* represent me. That doesn't mean that I subscribe to the false polarization either, or that I support all Dem leaders and causes.
That doesn't stop Helicopter Ben from printing them out for the banks, now, does it? Or the congress for inventing $$ out of thin air to bail out GM. We'll all be lucky not to end up like Zimbabwe.
Closed AccountNov 13, 2008
Since the Federal Reserve took over management of the US$ in 1913, the dollar has lost upwards of 96% of its value. Is that really the long-term pony you wanna hitch your wagon to?
angosturaNov 13, 2008
The trouble is that bajillion supporters all had rolling eyes, and were screaming (through foam-flecked lips in the main).
Closed AccountNov 13, 2008
Nail on the head.
brad3378Nov 13, 2008
I would agree with your statement that the relationship between gold and the dollar has been volatile, however I would argue that the volatility is weighted more due to the value of the dollar fluctuating.For instance, lately, the relationship between the price of Oil & Gold has been much more stable than the relationship between Dollars & Oil or Dollars & Gold. Personally, I'm not a "Gold-Bug" because I have the belief that there is a bigger opportunity in industrial metals like Copper and it is much easier for me to understand the supply/demand equation since less emotion is driving the price of industrial metals. I have the belief that the combination of inflation, a recovering economy (Good for industrial metals but probably bad for Gold), & China's recent $600 Billion infrastructure plan will boost commodity prices. I also believe that China's economy will continue to grow (with or without the help of the USA) so I my risk will be minimal. Only time will tell who is right in the long run, but I'm putting my money where my mouth is with copper.
Closed AccountNov 14, 2008
"How the hell is what I said "partisan"? I do not subscribe to the fraudulent left-right paradigm of the War Party."I consider myself a Dem because they *best* represent me. That doesn't mean that I subscribe to the false polarization either, or that I support all Dem leaders and causes.
atomheartmotherNov 14, 2008
Ahhh, a bit of fairness, without a doctrine, even. Dugg up.
tao52nycNov 14, 2008
That doesn't stop Helicopter Ben from printing them out for the banks, now, does it? Or the congress for inventing $$ out of thin air to bail out GM. We'll all be lucky not to end up like Zimbabwe.
duggmeisterNov 14, 2008
That is a cool saying.