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Posted by FLR on 3/8/2010 12:51:42 AM
The Telegraph is in fact citing this whiz-kid, Suren Thiru.
I had a chuckle reading his/her Linked-in page:
Click to View Link
It is remarkable that you can make such a statement about the gold market. Jewelry and industrial demand in China, eh?
Since Suren is apparently an expert on the economics of the used car market, then I was trying to think of an analogy such as the UK used car market being entirely driven by the number of used cars sold in Swindon?
Reply from the Daily Bell:
Great link, thanks.
Posted by Jay Grovier on 3/8/2010 1:24:46 AM
What is a good way for retired people to invest in gold ?
Reply from the Daily Bell:
Buy the metal and take delivery is one way.
Posted by Diamond on 3/8/2010 2:12:39 AM
This was the best article ever. I laugh at people who think money is everything. its called debt, so sad. inflation of gold/silver is evident. they think they're slick with these commercials saying that they will purchase your old gold but send you worthless paper in return. so sad! really Daily Bell! Thanks for posting!
Posted by Michael Ponzani on 3/8/2010 2:15:58 AM
Even Peter Tosh says something about this at the end of his song "Downpresser Man"; "Money get funny".
Reply from the Daily Bell:
Great song. Great singer.
Posted by V. Heddins on 3/8/2010 4:44:26 AM
"Paper money has had the effect in your state that it will ever have, to ruin commerce, oppress the honest, and open the door to every species of fraud and injustice."- George Washington
Posted by Adrian W on 3/8/2010 4:57:37 AM
Sorry, Not totally related to story.I found this online and was wondering if I missed something. Maybe something our gov. forgot to tell us about in the U.S.?
Posted by Andrew McKillop on 3/8/2010 6:08:00 AM
WHAT ABOUT OIL?
Maybe the compilers of your columns (formerly called journalists) do not know that crude oil was trading at about 10 US dollars a barrel in 1998. With the present price, not the mid-year 2008 peak price of oil, we have roughly appreciated 700 since 1998 in nominal dollar terms uncorrected for inflation and depreciation of the US dollar's buying power since 1998 ... Can gold beat that?
Reply from the Daily Bell:
Our column responded to the article, and we commented on gold and silver as an obviously superior investment. You use a date (1998) outside of the one employed by the study. In 2000, oil traded around US$30 a barrel and higher. However, if you believe the Telegraph is in error, feel free to write to them.
Posted by Rob on 3/8/2010 7:06:40 AM
I read somewhere that Rothschilds sets the price of Gold everyday, can someone explain how this is done?
Reply from the Daily Bell:
The Rothschilds do not set the price of gold, not formally anyway.
Posted by Terry Haney on 3/8/2010 8:21:04 AM
An eirlier question was how do you get into Gold. There are a lot of good bullion dealers the you can buy from. Just watch haow much their premium is over the daily spot price. $24.95 to $49.95 is about average per ounce.
If Gold seems to expensive for you the start out with, then look at Silver. It can be bought for $0.69 csnts to $0.99 cents per ounce over spot. Pick up a few ounces as you can afford it, watch the marcket and buys more on the dips.I personally stay away from any paper silver like ETF's (Exchange Traded Funds) or leveraged accounts. Like fiat money, paper can evaporate. So, buy and hold and don't drive yourself crazy watching every tiny rise and fall.
Take physical position of the metal and continue to buy the larger dips as you can afford to.
Reply from the Daily Bell:
Practical advice.
Posted by Adrian W on 3/8/2010 9:32:32 AM
Is the North American Union Amero currency that is being produced now legitimate? I found it for sale on a German EBay website.
Reply from the Daily Bell:
This issue was explored some years ago when an enterprising artist created an "Amero." It wasn't official money (how could it be?), merely a creative foray. Chances are this is the same sort of thing (if it is not the actual representation from several years ago).
Posted by Arthur on 3/8/2010 11:31:05 AM
To purchase gold and silver i think it is advisable to researchwho is a listed agent for the coin/bar you are buying. In Canada would use an agent for the Canadian Mint, thereby lowering the riskof some counterfeit material.(I don't know how prevalent this is but it is free insurance, just like when you take cash out of the bank to buy the gold you know the paper is probably good.)
Posted by Lance E. Schultz on 3/8/2010 12:01:29 PM
Few investors take the time to calculate the risk-adjusted-return nor the correlation coefficient of their investments. The risk-adjusted-return posted by gold and silver over the last decade is an even stronger argument than one made solely on their raw performance.
The advantages of diversification touted by all the major investments houses historically intentionally omitted the indispensable role which real assets should provide for all investors to tangibly reduce risk and improve their overall risk-adjusted-returns.
Such fact is chiefly behind why so many mainstream investors were wholly mutilated when the negative correlation coefficient of the average portfolio all positively coalesced to 100 and eviscerated any potential diversification benefit at all for those investors lacking the discernment and experience found in the addition and role of real assets.
However, as evidenced from years of empirical data, despite the stalwart recent track records for the "shiny metals," investors would be money-wise not to forget the remaining "real" asset classes of managed timber, raw land, agribusiness, livestock and private local enterprise investments to achieve real diversification benefits, a true negatively correlated portfolio and the highest risk-adjusted-returns achievable.
Reply from the Daily Bell:
Yes, of course diversification is ALWAYS good. But it should be pursued within the larger parameters of the business cycle in our opinion.
Posted by Carol on 3/8/2010 7:39:39 PM
Anecdote: In 1974, we gave my parents a 1924 $20.00 St. Gaudin gold coin for their 50th Wedding Anniversary. We paid $350.00. Today it is valued at over $1400.
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