re: The myth of gold being an inflation hedge

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...at any rate people that might have the inclination to 'keep their money in a mattress' dare not because it will be destroyed by inflation if they do. Do you think that is a good idea?

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Actually, yes. I think it's a terrible idea to bury money in a can in the backyard instead of making investments that allow that money to be put to use.

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IOW, do you think punishing savers is a good idea?

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Nobody is out to "punish" what you call savers but would more accurately be termed as "hoarders." It's just the fact that it's an incredibly stupid strategy means that they have punished themselves.

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Yet another reason for international equity investing which provides currency diversification

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That is what I do.

I also own some gold for diversification, I'm just confused about why anyone seriously thinks physical possession of the stuff doesn't cost a shite-ton of unnecessary premium. It's like paying a banker 10% off the top to withdraw from your checking account.

'Actually, yes. I think it's a terrible idea to bury money in a can in the backyard and to instead of putting it in investments where it can be put to use in the economy.'

The money belongs to whoever has possession of it. Money has no conscience. People have the right to bury their money in a can if that is what they want to do. You, I, nor anyone else has the right to pass laws directing or forcing people to use their money to 'get the economy going' or whatever other tyranicacal law might be passed to force people to 'spend' money or lose it to inflation...or force people into a stock market, bond market, bank cd or whatever. All things that can be done with money are risky, some more than others, and some people have lots of money and want as little risk as possible. That is their decision.

'Nobody is out to "punish" what you call savers but would more accurately be termed as "hoarders." It's just the fact that it's an incredibly stupid strategy means that they have punished themselves.'

Suddenly 'savers' have morphed into 'hoarders' in your view? Because you are not a saver? Savers are not hoarders! What an incredibly dumb thing to say. Once again, it is not your call to make, it is the call of the one in possession of the money. You cannot impose your ideals on them.

Saving is the backbone of a strong economy. Savings is the only true source of investment capital. Do you believe that the fricking government can generate investment capital? If you do it's time you took a few books to the wood shed.

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Suddenly 'savers' have morphed into 'hoarders' in your view? Because you are not a saver? Savers are not hoarders! What an incredibly dumb thing to say.

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No, savers are not hoarders. I'm a saver - some would say cheapskate

And of course you do understand the difference between savers and hoarders, but you'd rather be irascible and petulant rather than have a real conversation with anyone who doesn't simply parrot whatever it is you have to say.

'Yes, but so far, gold doesn't do very well there either. As I've pointed out, the comparison with currency is not relevant simply because hardly anyone has more than small amounts for their short term needs.'

It is apparent that you are used to dealing with poor folk.

What school did you attend? Community college? Did they give you a diploma?

So do I. Lookout, we will be labeled WHOGAS #'s 2 & 3. Oh wait, we already have.

I have a ~ 50 lb bag of 90% silver content coins, but that won't save me financially. That's one of the big challenges I have with gold. If one truly believes the US or global financial end of days is around the corner they should be 90%+ in gold if that is their keystone to offset financial ruin. If one has a 7 figure portfolio and only 10-20% is in gold WTSHTF, it's not going to come close to recouping the portfolio losses. Then a new bullshite currency would be put in place, bad politicians and monetary policy makers stay in place, rinse, repeat, what is gold worth then? I'll stay diversified and take my chances.

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It's mine, I got lots of it, if I wanna take a loss to have it in my hand that is my business, not your's.

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Certainly true. That won't keep me from observing that it's a great way to lose money.

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'I'm quite willing to sell anyone all the gold you want if you will pay me 50% above spot price. I'll even accept lots of those worthless dollars for it.'

I have read some of your stupid statements but that one about tops the rest. Why would anyone deal with you when you are demonstrating how dumb you can be?

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You have not addressed my offer. Since you think currency is not worth much but gold is, when are you ready to start unloading some more of those dollars?

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Lookout, we will be labeled WHOGAS #'s 2 & 3.

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Wear it with pride!!!

'And of course you do understand the difference between savers and hoarders, but you'd rather be irascible and petulant rather than have a real conversation with anyone who doesn't simply parrot whatever it is you have to say.'

What it sounds like to me is that you apply the term hoarder to 'others that save' and the term 'saver' to yourself. Double standard, iow.

I am willing to have a real conversation with anyone that doesn't lie to me and is objective. I will frick with anyone that stoops to lies, of commission or ommission. That includes cherry picking stats to make a point that does not exist. WHOGAS comes to mind.

If you read what I posted, written by Greenspan, you will see why all fiat currencies eventually fail. If you understand that our economy is now under great stress certainly you will see why some people prefer to opt out for now and rejoin the play once the field is brought into some semblance of level. I cannot play in a stk market, bond mkt that is run by the Fed and GS. I am out on a limb now and covering long positions on oil but I would not even be in oil if it was not a favor for others. Anyone that plays in these mkt better be real good or real lucky and preferably both...still, they (including me) probably need professional help if they are in the current mkts.