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Also, from [1] since I'm fin-blind: A gold bug is someone who expounds the virtues of gold as an investment, and who thinks its price will perpetually increase

by unwind 5y ago

Also, from [1] since I'm fin-blind: A gold bug is someone who expounds the virtues of gold as an investment, and who thinks its price will perpetually increase. [1]: https://www.investopedia.com/terms/g/goldbug.asp https://www.investopedia.com/terms/g/goldbug.asp

roenxi 5y ago
That doesn't sound right: 1) Obviously the price of gold will perpetually increase - there is an official policy of low single digit annual inflation. The price of everything is expected to perpetually increase unless it an obsolete good. It isn't like gold bugs are even a little unusual in observing this. 2) I thought the point of gold bugs generally to spruik gold as a speculative gamble on the theory it will go up like crazy. Note that as an investment gold does pretty well, it usually posts "real" price gains YoY. Or, for people who believe more in reality, the rock stays about the same and official inflation stats undercall asset price inflation every year like clockwork. Gold bugs are the ones who think that is unreasonably poor performance.
AdamH12113 5y ago
Wikipedia[1] has a fuller set of definitions: * An investor or speculator who is very bullish in buying the commodity gold, or similarly themed financial products such as junior mining companies, gold certificates, bullion ETFs, and other derivative instruments related to precious metals. * A person who opposes or criticizes the use of fiat currency and supports a return to the use of the gold standard or some other currency system based on the value of gold and other hard assets. * Someone who considers one commodity, usually gold, "the appropriate measure of wealth, regardless of the quantity of other goods and services that it can buy". * A person, often with views summarized above, that subscribes to conspiracy theories relating to gold and silver, frequently including but not limited to, alleged manipulation of the price of precious metals and the supposed disappearance of gold held by the United States Government at Fort Knox. The Gold Anti-Trust Action Committee (GATA) is a small but prominent promoter of such conspiracy theories within the gold bug community. However, such persons are widely dismissed as cranks and their beliefs as fringe by reputable economists, business leaders and government officials. [1] https://en.wikipedia.org/wiki/Gold_bug#Various_themes_on_the_term https://en.wikipedia.org/wiki/Gold_bug#Various_themes_on_the...

by unwind 5y ago

roenxi 5y ago

That doesn't sound right: 1) Obviously the price of gold will perpetually increase - there is an official policy of low single digit annual inflation. The price of everything is expected to perpetually increase unless it an obsolete good. It isn't like gold bugs are even a little unusual in observing this. 2) I thought the point of gold bugs generally to spruik gold as a speculative gamble on the theory it will go up like crazy. Note that as an investment gold does pretty well, it usually posts "real" price gains YoY. Or, for people who believe more in reality, the rock stays about the same and official inflation stats undercall asset price inflation every year like clockwork. Gold bugs are the ones who think that is unreasonably poor performance.

AdamH12113 5y ago

Wikipedia[1] has a fuller set of definitions: * An investor or speculator who is very bullish in buying the commodity gold, or similarly themed financial products such as junior mining companies, gold certificates, bullion ETFs, and other derivative instruments related to precious metals. * A person who opposes or criticizes the use of fiat currency and supports a return to the use of the gold standard or some other currency system based on the value of gold and other hard assets. * Someone who considers one commodity, usually gold, "the appropriate measure of wealth, regardless of the quantity of other goods and services that it can buy". * A person, often with views summarized above, that subscribes to conspiracy theories relating to gold and silver, frequently including but not limited to, alleged manipulation of the price of precious metals and the supposed disappearance of gold held by the United States Government at Fort Knox. The Gold Anti-Trust Action Committee (GATA) is a small but prominent promoter of such conspiracy theories within the gold bug community. However, such persons are widely dismissed as cranks and their beliefs as fringe by reputable economists, business leaders and government officials. [1] https://en.wikipedia.org/wiki/Gold_bug#Various_themes_on_the_term https://en.wikipedia.org/wiki/Gold_bug#Various_themes_on_the...