RSSAll That Glisters Is Not Gold
Gene Lalor | October 27, 2009
Having barbarized the English language, we now prefer to say that, “All that glitters isn’t gold,” instead of using Shakespeare’s “glisters.”
The meaning is about the same: Gold and the pursuit thereof, whether for investment, speculation, jewelry, or its sheer gut attraction has its pitfalls and the benefits of its attraction may not always be what they seem to be.
The same goes for “the poor man’s gold,” silver, which today seems ubiquitous in cheap baubles.
Unlike real estate which Will Rogers said we should buy since they’re not making any more of it, they’re still “making,” as in mining, gold although gold deposits are becoming harder and harder to find even as competition heats up and as the price soars.
Gold, 
that most popular of all precious metals, has from time immemorial been the one true sure bet. However, not that it would ever be worthless, but gold could lose significant value and lose investors/speculators big money. For the hoarders, it also presents the problem of storage.
Under Grandma’s bed is not recommended, especially if she tends to wander with her purse stuffed.
Of course, land, real estate, tends to periodically crash and burn as millions of Americans witnessed from the government-caused burst housing bubble.
In today’s very uncertain times, buying–and hoarding–gold has become an enticing hedge against wildly-inflated paper currencies, such the Obama dollar. The inflationary effect of Obama’s fascination with printing far more greenbacks than we should has yet to hit America’s fan.
Just give it time, until after the elections.
Gold is considered the safest hedge against extremely catastrophic events, events even more catastrophic than those of 9/11/2001.
Use your imagination to envision those possible and, regrettably, plausible eventualities.
Glister or glitter, the gold bug is very much alive and well nowadays as the price has climbed above $1000. an ounce from $310. just seven years ago.
Gold freaks are now suggesting the price could go to staggering levels of $2500., $5000., even $10,000. per ounce and that a piddling grand represents the metal’s “new bottom.”
One market expert predicts that five digit mark could be on the horizon, as could $200. http://bit.ly/4vrsLO
All that is definitely known about the relative-future price of gold is rooted in the relatively-recent past when the price was set in stone at $35. per oz. by the FDR administration in 1933. That politico-economic move helped deepen the Depression.
In 1896 William Jennings Bryan famously preached, “You shall not press down upon the brow of labor this crown of thorns, you shall not crucify mankind upon a cross of gold.” More than eleven decades later, in 2009, Americans would welcome a cross or anything else made from gold.
So what does the prudent investor, the nervous Average Joe, or the speculator do in this trying, uncertain environment?
I can only guess:
. If you believe the Obamians are leading us down the very thorny path of 1920’s-Germany when it took a wheelbarrow full of marks to buy a loaf of bread or to 2000’s style Zimbabwe where 10,000% inflation makes a loaf of bread too expensive, batten down the hatches.
If such models are in the offing, thanks to hyperinflation fueled by spending our national wealth by drunken Democrats, focus on protecting your non-biological family jewels.
. If you believe the price of gold will go to $10,000. an ounce and you have the wherewithal, chuck the kids’ college funds, hock the furniture, sell the dog, and buy all the gold you can stuff in a secure tree stump.
. If you believe an unimaginable cataclysm will strike us, do all the above then build a bomb shelter, and pray.
Or, buy silver coins and bullion and have a few chunks handy to pay for a phone call to Washington to tell the president what you think of him and what he did to us.
Then head back to the bomb shelter!
Contributor's website: http://www.genelalor.com/
Content posted by users from other sites is posted for commentary and news purposes under fair use and each author is responsible for their own postings and a particular posting should not be construed as being endorsed by this site or its owner.
Leave a Reply
Loading ...Recommended Reading:
