Date: Sun, 28 Nov 2004 13:53:38 -0700 From: "John P. Mullen" User-Agent: Mozilla/5.0 (Windows; U; Windows NT 5.1; en-US; rv:1.7.2) Gecko/20040803 X-Accept-Language: en-us, en MIME-Version: 1.0 Newsgroups: soc.culture.japan,soc.culture.scottish,fj.life.in-japan,soc.culture.irish,soc.culture.korean Subject: Re: Promote Peace: Boycott USA goods References: <41a6a3c9.22057797@news> <0cmeq09j4su2c8u5klcmr307gk14tron98@4ax.com> <6CWpd.7693$3U4.233552@news02.tsnz.net> <41a8b9ab$0$16582$cc9e4d1f@news-text.dial.pipex.com> <41a8e4b3$0$19154$cc9e4d1f@news-text.dial.pipex.com> <41a9930f$0$16573$cc9e4d1f@news-text.dial.pipex.com> <173kq01naa5t0ddm0jpu0rn6jh9q2nj19o@4ax.com> In-Reply-To: <173kq01naa5t0ddm0jpu0rn6jh9q2nj19o@4ax.com> Content-Type: text/plain; charset=ISO-8859-1; format=flowed Content-Transfer-Encoding: 8bit NNTP-Posting-Host: ras02-216-31-92-207.lru-dial.zianet.com Message-ID: <41aa3acf@nntp.zianet.com> X-Trace: nntp.zianet.com 1101675215 216.31.92.207 (28 Nov 2004 13:53:35 -0600) Lines: 102 Path: ccsf.homeunix.org!ccsf.homeunix.org!news1.wakwak.com!nf1.xephion.ne.jp!onion.ish.org!news.heimat.gr.jp!taurus!newsfeed.media.kyoto-u.ac.jp!newsfeed.icl.net!c03.atl99.usenetserver.com!atl-c02.usenetserver.com!news.usenetserver.com!feed5.newsreader.com!newsreader.com!border2.nntp.dca.giganews.com!nntp.giganews.com!feed.cgocable.net!news2.epix.net!news-pen-1.sprintlink.net!nntp.zianet.com!not-for-mail Xref: ccsf.homeunix.org fj.life.in-japan:22688 MacHamish wrote: > On Sun, 28 Nov 2004 08:58:47 -0000, "Nebulous" > wrote: > > >>"Jim Stewart" wrote in message >>news:cob5jo$fcc$1@usenet.cso.niu.edu... >> >>>"Nebulous" wrote in message >>>news:41a8e4b3$0$19154$cc9e4d1f@news-text.dial.pipex.com... >>> >>>>"MacHamish" wrote in message >>>>news:u4fhq0ddcl6djfvbqocv5a68fcj2obabs8@4ax.com... >>>> >>>>>On Sat, 27 Nov 2004 17:30:36 -0000, "Nebulous" >>>>> 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. That is the mistake that France and Spain made upon the discovery of the new world. Instead of seeking to develop new markets and trade agreements, they focused primarily on acquiring silver and gold. There was plenty of both to be had in the "New World," nearly doubling the known quantity of the known store. Unfortunately, what they did not realize was that gold was a proxy for wealth, but not wealth, itself. By doubling the known amount, they effectively halved the value of the gold and silver they already had. By diverting their attention to the pursuit of "riches," they ignored the more important processes of production and distribution, leading to widespread discontent. This was a primary factor that led up to the French revolution. Having gold as an individual is a good hedge, but contributes little to the growth of true wealth in the world and is, therefore, a crappy policy for a government to follow. > There will be a time to divest my > holdings and move to something else. For now, I'm comfortable with my > positions. > > Your choice. >>>>>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 Mór Again, unless most of your fortune is in gold, you may be losing more than you are gaining. John Mullen