Gold Bugs Get No Respect

Thursday, October 1, 2009
Posted in category Economics

They are associated with survivalists, conspiracy theorists and nutcases. They are always looking for the hyperinflation that never comes. Gold bugs pay a premium over the metal price for gold and silver coins on the notion that they will need the currency, come the Apocalypse.

Alice Schroeder is not all correct, but she gets some things really right in this interesting article on Bloomberg.

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One Response to Gold Bugs Get No Respect

  1. Jeannie Queenie says:

    October 2nd, 2009 at 12:38 am

    A saying I overheard about gold….“A gold mine is a hole in the ground with a liar on top.” As of this year, gold is third in line after its shiny sisters, Silver and Platinum. So even though gold has sold at record highs thus far, a better buy would have been silver or platinum. I also came across an article recently revealing the best ways to hide your gold should you indulge in the yellow metal. First suggestion was this…” Buy some acreage and plant a big enough garden to provide food for a whole year at a time. You can live on potatoes if you have to. When you have acreage, bury your gold and memorize the GPS coordinates.” Then this idea which I wonder about…”.Burglars don’t like attics. They are not easy to escape from. If you have an unfinished attic, put your gold/silver between the ceiling joists under the insulation. That blown-in crap is nasty. I don’t even like to go looking through the stuff; and it’s my own gold! Nevermind when I’m looking for yours!” And then this one which is a no brainer…”When burying valuables in PVC pipe, bury the pipe below some other metallic object (scrap iron, old automobile spring, etc.) so anyone using a metal detector will give up on that location when they see the buried junk.”
    These ideas were offered up by Stansberry Research.

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