On Sun, 28 Nov 2004 08:58:47 -0000, "Nebulous"
<Nebulous@pigtail.freeserve.co.uk> wrote:

>
>"Jim Stewart" <stewart@ceet.niu.edu> wrote in message
>news:cob5jo$fcc$1@usenet.cso.niu.edu...
>>
>> "Nebulous" <Nebulous@pigtail.freeserve.co.uk> wrote in message
>> news:41a8e4b3$0$19154$cc9e4d1f@news-text.dial.pipex.com...
>> >
>> > "MacHamish" <russj41@concentric.net> wrote in message
>> > news:u4fhq0ddcl6djfvbqocv5a68fcj2obabs8@4ax.com...
>> > > On Sat, 27 Nov 2004 17:30:36 -0000, "Nebulous"
>> > > <Nebulous@pigtail.freeserve.co.uk> wrote:
>> > > >Actually he should have bought Euro's.
>>
>> The fact that he did not places a shadow on his genusness. Hindsight is
>> always easy.
>>
>
>It was intended as a joke Jim. If he got out of dollars and into gold he has
>done very well, and much better than most people, although he has
>contributed in his own small way to the demise of the dollar. I was trying
>to suggest he should instead have done something (invest in Europe)  I felt
>he would find difficult to justify to himself.

By investing in gold, I covered all the bases.  Gold is the only true "store
of value".  Gold is (solid) money.  There will be a time to divest my
holdings and move to something else.  For now, I'm comfortable with my
positions.

>> > > Yes, when it indexed in the 80's vs. the 130's, but even at that, it
>> > hasn't
>> > > outperformed gold over roughly the same time frame.  I'd much rather
>> > > speculate on gold than the vagaries of an individual currency.  It
>> spreads
>> > > the risk.  It's also easier.
>>
>> We have had three swings in gold in the past 40 years. In allcases, most
>> investors
>> do better in the market.
>> > >
>> > > >Either way each individuals flight from the dollar contributes to its
>> > > >problems. America has to increase interest rates and tighten its
>belt.
>> > >
>> At the cost of more jobs and an increase in the homeless.
>>
>
>Yes- as I've just said to MacHamish the free market is very unforgiving. If
>it had been done a year ago it would not have hurt nearly so many people as
>it is now likely too. Its either that or continue to watch the dollar slide.

I'm for watching the dollar slide.  It's a necessary adjustment that has to
play itself out.  I'm not personally responsible for any of these problems,
but shame on me if I fail to read them correctly and take advantage of
whatever opportunities they provide.

Here come the howls.


MacHamish M$(D??(Br