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Bearwithme

Member Since 05 Dec 2002
Offline Last Active Dec 01 2003 01:50 PM
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Posts I've Made

In Topic: Gold Has Become The Best Investment

06 December 2002 - 11:22 AM

Our guest said:
"Gold will be useless".

Well.. gold is pretty much the only currency that we can trace back to before the time of Christ.
Can anyone show me a time when it was as worthless as a UAL I.O.U.?

Maxxpain made an interesting statement:
"I don't think of gold as an investment, but as insurance. In my brokerage account I bought some gold stocks just so all the cash wouldn't be in their putrid money market account. "

I agree, physical gold is perhaps one of the best catastrophe insurances.. but if we study the history of gold it has had 2 massive moves to the upside in the last 25 years... a steady move up recently, but nothing massive.

In response to Maxxpain, I would say I wouldn't be very surprised to see gold at 300 a year from now, but also not very surprised to see it at 500 either.
It likes to do a run every now and then.

I also see little downside from here.. sure, a few TA guys like Neely think it could go to 200 or 250, but If we south of 300, I will take all of you for a free lunch at one of the Burger Kings that hasn't closed as an apology for my poor judgement. :P


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