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Dow Hits 20000 for First Time

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  • #16
    Originally posted by Mountain Man View Post
    Financial experts don't generally recommend investing in gold.

    Source: DaveRamsey.com

    It sucks. Gold is a horrible investment. It's speculating in precious metals, and you're going to lose your butt when you play with gold. The deal with gold is really simple.

    Gold has a 70-year track record of 4.2% returns. That's about the rate of inflation. It's awful. All the rate of return that gold has made has been in the last seven years, and even then it will go up and down and up and down. It's very volatile.

    If there are any end-time conspiracy theorist nutburgers who think that gold is stable and will cover us if the economy collapses, I tell you that gold and money are spiritual. Gold is only as good to you as someone else is willing to take it as payment. There is no guarantee that someone will take it as payment.

    When Hurricane Katrina hit New Orleans and that economy collapsed, the first thing that happens is commodities become valuable. Paper money isn't valuable and gold isn't valuable. A bottle of water, a tank of gas or a pair of blue jeans in that mess was a big deal, but a bar of gold wouldn't have gotten you anything. People are after survival in those situations. The idea that we return to the gold standard after a crash is bogus.

    https://www.daveramsey.com/askdave/posts/115865

    © Copyright Original Source

    Yeah, gold isn't likely to do any better than keep up with inflation; its attraction is that you're not likely to lose much money either.
    Enter the Church and wash away your sins. For here there is a hospital and not a court of law. Do not be ashamed to enter the Church; be ashamed when you sin, but not when you repent. – St. John Chrysostom

    Veritas vos Liberabit<>< Learn Greek <>< Look here for an Orthodox Church in America<><Ancient Faith Radio
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    I recommend you do not try too hard and ...research as little as possible. Such weighty things give me a headache. - Shunyadragon, Baha'i apologist

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    • #17
      Originally posted by One Bad Pig View Post
      Yeah, gold isn't likely to do any better than keep up with inflation; its attraction is that you're not likely to lose much money either.
      Which is why it's a bad investment. You want your money to grow, not stagnate.
      Some may call me foolish, and some may call me odd
      But I'd rather be a fool in the eyes of man
      Than a fool in the eyes of God


      From "Fools Gold" by Petra

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