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Old 05-07-2010, 07:42 PM   #11
Amish Rake Fighter
Posts: 6

i dont understand buying gold. its an inherently low value metal, that people (if they had to) could smelt out of landfills full of old computers if they had to. it has been skyrocketing in value for the last few years... dont most investors say 'buy low sell high'? well gold is at a huge, unbelievable high right now, is it not? and if some hedge fund needed liquidity, well, i would wager a bunch of these funds have bought gold when it was low because they saw this crisis coming (sort of like they bought bets against the housing market... they could read the writing on the wall in 05 and 06). so if these guys need some cash, they just sell their gold all at once, dumping it on the market, and destroying the value overnight. what good is gold, in and of itself? its like diamonds. i just dont get it.

"At this rate the Chinese will be dancing on the Moon while Americans will be living in poverty paying off Goldman's Sachs induced debt."

most chinese will probably continue to live in poverty, considering that there are no labor unions or free speech rights, which are what allow a middle class to exist. imho

decora is offline