Quote:
Originally Posted by ilnjscb
People have killed, fucked, tortured, created, tried, made war and died for gold for five thousand years. People have sold millions of children for gold. Kings have been assassinated for gold. Nations have risen and fallen because of gold. Human history since the iron age has revolved around gold.
No matter what we do, gold is central to civilization.
Shares and speculation on shares is a new market, and the two concepts are totally different. Companies and farms produce because of human labor. Without human labor they are valueless. They can lose their value even with labor. They depend on civilization for their valuation. Gold is the foundation of organized trade. Organized trade is the foundation for civilization. You can't eat gold but you can't eat land either. Try subsistence farming with no help and no seed, no animals and no expertise. XOM? Only has worth while nations exist and honor their agreements with faith and force. A blip, like standard oil or the IndyMac bank. XOM is a bunch of handshakes, motivated by desire for gold.
Warren Buffet is a genius, but so is Bill Gates. You can be a genius and be wrong, or not understand a specific market.
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yeah he's wrong, he doesn't know how to make money at all.. his opinion means nothing compared to the countless fearbies spouting off about how gold will make them millionaires in the future via internet spamming and countless blogs and websites stating such.
If it was so profitable and such a guaranteed investment why do people feel the need to push it on everyone like it's the only way to go? Ohh right, invested interest...