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Old 07-06-2013, 12:47 PM   #586
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Join Date: Aug 2005
Location: Denver
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Originally Posted by peacepipe View Post
It seems most people don't get it,you buy low sell high. That's why the fat cats are usually the only ones to benefit from buying gold. They can afford to buy it cheap & sit on it until the economy hits a pot hole when they then can dbl their money.
Gold is an 'emotional' investment, making it a lousy investment choice for most people. When it starts paying a dividend, I'll buy some.

Warren Buffet on gold.

“Why do you think gold bugs get so irate? Because they really do come out. If you go on CNBC and say that bonds are kind of a poor investment, people don’t get mad at you. You don’t hear from the Treasury. You can knock almost any investment and nothing happens. But when you talk about gold it’s different. Of course that says something about their motivation for ownership. They want people to agree with them. They want everybody to get so scared they run to a cave with gold. Caves might be a better investment than gold. At least they’re not producing more caves all the time. So they want people to be as afraid as they are. Incidentally, they’re right to be afraid of paper money. Their basic premise that paper money around the world is going to be worth less and less over time is absolutely correct. They have the correct basic premise. They should run from paper money. But where they run to is the mistake.”
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