Comments on: Gold as an Investment: A Gold Rush or Fool’s Gold? http://www.thinkyourwaytowealth.com/2009/02/05/gold-as-an-investment-a-gold-rush-or-fools-gold/ Personal Finance Blog | Money Management | Money Saving Tips Sat, 13 Mar 2010 22:24:58 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: Moses http://www.thinkyourwaytowealth.com/2009/02/05/gold-as-an-investment-a-gold-rush-or-fools-gold/comment-page-1/#comment-2673 Moses Sun, 14 Feb 2010 13:08:57 +0000 http://www.thinkyourwaytowealth.com/?p=1586#comment-2673 Gold, like any asset, runs in cycles; there are times to be a buyer, and there are times to be a seller. In the past decade, gold has gone from roughly $250 dollars and ounce to $1,000 dollars an ounce. During the great bull run in the 70's, gold went from $35 dollars and ounce to $850 dollars an ounce- increasing over 20X in the process. Gold is money, period. It's ironic that "paper bugs" try to make out "gold bugs" to be ignorant people who simply love to stare at shiny little gold coins. Gold is in the news, yes, but the average person still thinks it's a bubble! The fact is, those who have been calling for a gold collapse have been wrong for the better part of a decade. I suggest a brief study of fiat currencies in history for anyone who puts blind trust in the U.S. dollar, or any fiat currency for that matter. Gold, like any asset, runs in cycles; there are times to be a buyer, and there are times to be a seller. In the past decade, gold has gone from roughly $250 dollars and ounce to $1,000 dollars an ounce. During the great bull run in the 70’s, gold went from $35 dollars and ounce to $850 dollars an ounce- increasing over 20X in the process.

Gold is money, period. It’s ironic that “paper bugs” try to make out “gold bugs” to be ignorant people who simply love to stare at shiny little gold coins. Gold is in the news, yes, but the average person still thinks it’s a bubble! The fact is, those who have been calling for a gold collapse have been wrong for the better part of a decade. I suggest a brief study of fiat currencies in history for anyone who puts blind trust in the U.S. dollar, or any fiat currency for that matter.

]]> By: RC http://www.thinkyourwaytowealth.com/2009/02/05/gold-as-an-investment-a-gold-rush-or-fools-gold/comment-page-1/#comment-1592 RC Thu, 05 Feb 2009 18:47:32 +0000 http://www.thinkyourwaytowealth.com/?p=1586#comment-1592 @Joe- Good point, and funny too! They are pretty to look at! I am not sure what a "gold bug" would suggest we do though-sell all of your investments and buy gold? It seems to much like predicting the bottom of the stock market, trying to time the market. @Joe- Good point, and funny too! They are pretty to look at! I am not sure what a “gold bug” would suggest we do though-sell all of your investments and buy gold? It seems to much like predicting the bottom of the stock market, trying to time the market.

]]> By: Joe http://www.thinkyourwaytowealth.com/2009/02/05/gold-as-an-investment-a-gold-rush-or-fools-gold/comment-page-1/#comment-1591 Joe Thu, 05 Feb 2009 18:04:21 +0000 http://www.thinkyourwaytowealth.com/?p=1586#comment-1591 I've many of the same arguments myself in the past, and every time I get at least 1 response to the effect of, "But gold coins are real, and truly beautiful!" Such arguments usually make me wonder at how people can be taken in by something because something is shiny and attractive to look at... :-D I’ve many of the same arguments myself in the past, and every time I get at least 1 response to the effect of, “But gold coins are real, and truly beautiful!” Such arguments usually make me wonder at how people can be taken in by something because something is shiny and attractive to look at… :-D

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