[lbo-talk] 12%, plus

[John Thornton]

John S Costello wrote:
> This sounds like a scam to me.  Why would you want untraceable gold?
> If you want physical gold you can just buy Krugerrands (or your local
> mint's version of the same -- Canada will sell you a 100kg gold coin
> if you like --http://www.cbc.ca/money/story/2007/05/03/goldcoin.html
> ).
>
> I don't understand why gold should be valuable, but I do understand
> that other people think it is, and who am I to argue with them?  So I
> put my (small) IRA into a Precious Metals & Minerals fund (USAGX --
> http://finance.google.com/finance?client=ob&q=USAGX ), just for kicks.
>  It doesn't buy gold, but it buys mining and mineral companies in the
> precious metals segment.  It did pretty well last year, but I wouldn't
> put a ton of money into it; it's really, really volatile, and like I
> said, I don't understand the underlying value proposition, which seems
> like pure superstitious psychology to me.

Since use of these metals, especially platinum, is rising every year why 
shouldn't they rise in value unless we started finding large deposits 
elsewhere and they flooded the market?
I agree the whole untraceable gold thing sounds like either a scam or 
New World Order nuttery.

John Thornton