tag:blogger.com,1999:blog-11906042.post111826752923870243..comments2024-03-18T17:17:00.423+13:00Comments on Not PC: Gold bugs v gold standardPeter Cresswellhttp://www.blogger.com/profile/10699845031503699181noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-11906042.post-1118300504272208322005-06-09T19:01:00.000+12:002005-06-09T19:01:00.000+12:00Gold is for doomsday groupies- always has been. S...Gold is for doomsday groupies- always has been. So its deflation now is it? Mises was calling hyper-INflation 1 year ago. And they cite Paul Krugman as an authority - any port in a storm. Gold has no intrinsic value whatsoever.The current inventory of gold is at least 50 times its annual industrial requirement.The Gold standard was rendered obsolete with ETF.I could go on and on. You will have to do a lot better than show me economic sophistries from a couple of eccentrics. Reality is the final arbiter - is it not?<BR/><BR/>I don't tell you how to do your job - don't tell me how to do mine.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-11906042.post-1118278101945546852005-06-09T12:48:00.000+12:002005-06-09T12:48:00.000+12:00Ruth, you said, "Those who invest in gold do so *b...Ruth, you said, "Those who invest in gold do so *because* they are advocates of a gold standard ..."<BR/><BR/>Ah, not so. That's the point.Peter Cresswellhttps://www.blogger.com/profile/10699845031503699181noreply@blogger.comtag:blogger.com,1999:blog-11906042.post-1118277268336334182005-06-09T12:34:00.000+12:002005-06-09T12:34:00.000+12:00Of course it is the only currency accepted in the ...Of course it is the only currency accepted in the afterlife as well. Those who invest in gold do so *because* they are advocates of a gold standard, see the Fed as evil etc etc.and are usually permabears..Suggest you take a look at www.gold-eagle.com -sentiment is no different to Mises org. Reisman needs to answer the clue-phone...anyway if some countries are silly enough to add gold to their reserve currencies the European banks will be more than willing to sell their stashes to them.<BR/><BR/>It's pointless arguing this - for every article you post from a gold-peddling site I can post another saying the opposite, and I doubt I can change your mind. You certainly can't change mine ;-)Anonymousnoreply@blogger.com