"MacHamish" <russj41@concentric.net> wrote in message
news:173kq01naa5t0ddm0jpu0rn6jh9q2nj19o@4ax.com...
> 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.

Yet for about 20 years from 1980 it would have been an extremely poor
investment. It still hasn't done very much in pound sterling terms.

> >> > > 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.
>
It doesn't usually play itself out until you correct the underlying imbance.

Looking after yourself and yours is about all you can do. It doesn't help
your country though, which needs you all in dollars.

Neb