Oct 10 2011, 07:39 PM
QUOTE(Irresistible @ Oct 9 2011, 12:58 AM)
In his book Basic Economics, Thomas Sowell[62] argued that, in the long-term, gold does not hold its value compared to stocks and bonds:
To take an extreme example, while a dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998 be worth just 78 cents.
That is ... if the system actually holds up. How come this line keeps repeating itself? The most basic of understanding, if taken for dogma, becomes useless in the real world. Maybe people who had stocks and bonds in the bankrupt banks of Barings, Lehman since their inception are worth more when at the ends of their institutional lives at bankruptcy!To take an extreme example, while a dollar invested in bonds in 1801 would be worth nearly a thousand dollars by 1998, a dollar invested in stocks that same year would be worth more than half a million dollars. All this is in real terms, taking inflation into account. Meanwhile, a dollar invested in gold in 1801 would by 1998 be worth just 78 cents.
This post has been edited by trencher10: Oct 10 2011, 07:40 PM
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year end can see GOLD back to 19xx if USD keep on dropping huhuuu 
Anyway it's a good thing to see it goes up and let's hope it goes up more to 19xx by end of this year.
Ichimoku chart accurate?
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