re: Just dumped some cash and bought gold, good or bad?

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Value of gold is completely arbitrary. It doesn't create wealth, it doesn't multiply, it doesn't pay you interest...it just sits there and waits for people to decide it's worth more or less.

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Yeah that's why I bought pre 1933 gold coins, Indians, St Gaudens, liberties, etc. When someone wants to make an argument against gold they want to take the historical price of gold bullion versus the stock market but these old coins are just like anything collectable such as old Fender and Gibson guitars which if you would have bought 20-30 of those instruments 30 yrs ago needless to say you would have made quite a tidy sum. As far as what's gold worth? I guess the same question can be asked about the US dollar. The value of the dollar is based on faith, faith that the Feds and the government use wise monetary policy to ensure that the dollar retains value and to keep the US dollar as the preferred currency (petro dollar) for global trade. The problem we are facing is the dollar going to be conspired against by foreign/hostile governments to supplant the US dollar as the worlds preferred currency thus ending the reign of the almighty dollar?