Post
Topic
Board Speculation
Re: Gold collapsing. Bitcoin UP.
by
miscreanity
on 28/06/2012, 00:44:32 UTC
... just buy some bitcoins and you can start ignore manufactured reality for the next decade or so.  Grin

Smiley

nothing's noted unless one of you guys go on record yourselves and make some commitments like i have so i can call you wrong as well.  what do you think this is, a one way street?

i just heard some lady crying (literally) on an interview with Jim Puplava on how she's lost $100,000 on mining stocks since the top.  of course he said "hang on, you're closer to a bottom than a top".  it's irresponsible advice like this from guys like you that have cost alot of ppl alot of money.

I don't have to worry - I'm not mistaken. It's simple: paper gold can go to zero, but physical gold cannot. The same applies to all real assets.

Anecdotes do not change the fundamentals. No amount of 'crying ladies' paraded as intentional misinformation can either. With their lack of understanding that their 'losses' are unrealized, and often accompanied by a confusion about why the investment was undertaken in the first place if it was even entered for the right reasons, people sadly succumb to their own ignorance of the financial system.

It's amusing to hear people saying that gold holders will become millionaires when that status is relative - sure, you might become a millionaire, but a millionaire in 2020 who lives the same as an average middle class wage earner of ~$50,000 in 2010 is not necessarily someone who is financially 'rich'. It's simply someone who hasn't had to chase corners and trade their way to maintaining the same lifestyle he has now.

You can earn all you want in paper, but when the time comes to revalue assets, paper will be drawing the short straw. It's the same thing as being in the wrong asset when the Russel index is rebalanced every year. All of your gains could easily amount to the equivalent of treading water, or drowning.

It has to be said again: