First of all a confession. I generaly hold conservative points of view when it comes to politics. I would like to see smaller government and lower taxes. One view that American conservatives seem to adhere to is Sound Money and the Anchoring to Gold. I part ways with this belief.
I can not understand investing in a yellowish hunk of metal that has little functional value. Gold, in my opinion, is entirely a speculative commodity. If you buy gold directly or on the futures market you are basically hoping to sell your holding in gold at a higher price. Gold does not generate income and therefore is not a productive asset. This is essentially the position of an investor named Warren Buffett.
I bring up this issue since gold got crunched today and it looks like 1980 to 83 all over again.
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