[lbo-talk] 12%, plus

Marta Russell ap888 at lafn.org
Mon Jan 7 21:42:42 PST 2008


And didn't Nixon go off the gold standard to avoid a collapse of the dollar? Then came the oil standard, which Kissinger and all used to prop up the dollar, no?

Marta

The theory for gold is that the dollar is weak and going down. Gold will remain an international currency as other nations have preserved the gold standard even though the US didn't. Marta

On Jan 7, 2008, at 4:41 PM, 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.
>
>
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