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Originally Posted by cgu
As for gold... traditionally, especially if you're a fan of Ayn Rand you should buy the shit out of it right now. But seriously what can you possibly do with gold? Is it really in demand for something useful? http://en.wikipedia.org/wiki/Gold#Applications |
You are looking at it all wrong. Gold has been valued for literally thousands of years. Gold is not a commodity like copper. It is a form of money.
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Originally Posted by cgu
I mean read up on all those uses for gold and if I'm sitting here with silos full of grain and water and you come to me with some gold plated speaker wires that have debatable superiority I think I'm going to laugh and trade with some guy who can give me something I actually NEED.
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That is only true if this economic crisis has an Mad Max type of outcome. If that is how things end up then you are absolutely right. I do not think we heading back to the stone age...
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Originally Posted by cgu
I think gold as a medium of exchange became useless a century ago.
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If that were true gold would not be nearly $1,000 an ounce right now and central banks and governments around the world would not still be hording it.
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Originally Posted by cgu
Bottom line is no one tops the USA in production. We work 80+ hour weeks, rarely take vacations.
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Yes, the US has a much more productive work force than Western and Central Europe. We also have an increasing birthrate while Europe has a decreasing birthrate. We are also not taxed at such obscene levels as most Europeans.
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Originally Posted by cgu
...invest in production if you can find something that sells regardless of the economy. (toilet paper? efficiency products? etc)
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I think the next bubble they are going to try to blow is carbon trading and other similar "green" initiatives. We'll see if they are successful...