Quote from: figmentofmyass on August 19, 2018, 07:49:11 PM

and how is it propaganda? it's just history. gold is regarded by society as a valuable commodity---that's a simple fact with historical backing.

Yes, but it's being used as an argument to own gold regardless of what the price is--and this is a stupid position to take for any investment. The people who spout such things are either trying to sell their gold or people who've been brainwashed into believing that losing money is OK as long as they own gold.

Quote from: figmentofmyass on August 19, 2018, 07:49:11 PM

lol, bear market for years? that same exact logic applied to bitcoin in late 2015/early 2016.

No, bitcoin hit an ATH in 2014 and another just several years later. Meanwhile gold is languishing and has been for 7 years, with no signs of rebounding. And hey, it might turn out that bitcoin never gets adopted by the masses and that this big bull market we're seeing was just a bubble. I wouldn't rule out that possibility at all.

What goldbugs are basically always saying is, "you can never go wrong with gold". I think that's totally false. The average person does not need gold as an investment or as a hedge against inflation. How well has gold hedged against inflation since 2011? Can the average middle-class person afford to lock up a lot of money in an asset that provides no income; might cost money to keep secure; might get stolen; and might decrease significantly in value? I don't think so.

I stand by what I said. The goldbugs will NEVER tell you it's time to sell gold. Ever.

Quote from: markj113 on August 20, 2018, 08:42:38 PM

Is gold expensive right now considering how much aditional fiat has been pumped into the system through QE.

Stocks are artifically inflated, property artificially inflated through stupid low interest rates.

Why hasn't gold's price gone up? QE should be inflating everything, no? More money in the system + low interest rates should have people buying record amounts of gold, right? Why isn't that happening?

I agree about the stock market. I don't know when this bull market is going to end, but it'll at least be interesting to see what happens to the precious metals market once interest rates start rising.