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Gold prices, like many asset prices, are manipulated openly and secretly by major organizations like central banks. When people buy gold, it's not because they
by criley2 11y ago
Gold prices, like many asset prices, are manipulated openly and secretly by major organizations like central banks.
When people buy gold, it's not because they think the manipulated price is worthwhile, it's because they believe it is intrinsically mispriced and are betting that there will be a price correction at some point.
I mean, can you look at this stock market which has miraculously doubled since 2008, all while the federal reserve has pumped trillions into asset purchasing, and believe our equity and asset markets aren't being heavily influenced by state level actors?
- dragontamer 11y agoIf you're worried about the state, then you should be worried about Executive Order 6102, which would equate gold hoarding to prison time. https://en.wikipedia.org/wiki/Executive_Order_6102 https://en.wikipedia.org/wiki/Executive_Order_6102 Holding anything more than 5 oz of gold was illegal between FDR and Nixon. Nah man, Gold ain't worth it. Historically it has been seized by the State, and in "modern times" (after Nixon rescinded EO 6102) it's price has been horribly irregular and subpar other investments. Even lowly Bonds have better long-term investment value.