11-30-2007, 06:44 PM
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#5
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Registered User
Join Date: Feb 2003
Location: Here and There Seasonally
Posts: 5,985
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Quote:
Originally Posted by fishpoopoo
bruce,
the supply of gold is hard to increase. it has to be mined and is of limited quantity.
gold sticks around. gold doesn't corrode. it doesn't evaporate at room temperature or otherwise degrade. gold endures.
while the supply of funny paper money is theoretically endless.
buy gold when it settles back down to $750/oz (spot), which implies StreetTrack Gold Shares ETF (ticker: GLD) price of $75 or lower.
it's difficult to come up with a formula to value gold.
but, at the end of the day ..
more funny paper money means that gold goes UP.
the pundits are saying gold could hit $2,000/oz if this keeps up.
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Which is pretty close to where it should be now. Gold IMHO has been undervalued since they deregulated at 34 bucks. |
He that would make his own liberty secure, must guard even his enemy from oppression; for if he violates this duty, he establishes a precedent that will reach to himself.
Thomas Paine
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