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>>My grandma kept a stash... Interesting. I've asked my grandma how she saved given she was in the USD=42oz period but her response was we never had enough to

>>My grandma kept a stash... Interesting. I've asked my grandma how she saved given she was in the USD=42oz period but her response was we never had enough to save (postwar period really). My mum would rather believe a nobel prize winner rather than me :) As with evertthing, views on these matters depend on ones life experience. >> impossible to do at the volume I need Ha! a good problem to have! >>if trading stopped tomorrow, it could not settle and there would be huge defaults Exactly right! but if you trade in comex futures then you are still trading in paper - albeit paper gold. When the musical chairs stop then those holding the real physical metal will be ok imho. I don't want to be a christian missionary trying to convert but you may find the concept of freegold and the fofoa blog worth a read. In a nutshell, freegold is about thinking through the transition when the USD/paper gold market collapses and looking at what the giant players (central banks) are doing. If you subscribe to that theory then there are some good arguments why there would be no tax on gold in the future (a black market would arise to ship the gold to any region where it is not taxed). YMMV.

ekianjo 14y ago
Your Mom should listen to the right Nobel Prizes (Hayek) and not the phony ones like Krugman (in the same league as Stiglitz). Krugman said after the Internet Crash of 2000s: "To fight this recession the Fed needs . . . soaring household spending to offset moribund business investment . . . Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble." Creating a new housing bubble was certainly GENIUS, and he got a Nobel prize in Economy in 2008 following what happened, while he was at the root of this model of thinking. Nobel Prize in Economy means nothing nowadays. My dog knows more than Krugman.
- wintersFright 14y ago
  totally agree
beagle3 14y ago
> Exactly right! but if you trade in comex futures then you are still trading in paper - albeit paper gold. I'm not trading gold. I wrote "non bubble futures" (which includes gold - it's definitely not a bubble), but what I wanted to write was "non fictional futures" (gold and silver are fictional in the sense they cannot be settled). Many other commodities actually have a chance to settle most of the open interest should trading stop tomorrow.
- wintersFright 14y ago
  right - got you.

ekianjo 14y ago

Your Mom should listen to the right Nobel Prizes (Hayek) and not the phony ones like Krugman (in the same league as Stiglitz). Krugman said after the Internet Crash of 2000s: "To fight this recession the Fed needs . . . soaring household spending to offset moribund business investment . . . Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble." Creating a new housing bubble was certainly GENIUS, and he got a Nobel prize in Economy in 2008 following what happened, while he was at the root of this model of thinking. Nobel Prize in Economy means nothing nowadays. My dog knows more than Krugman.

wintersFright 14y ago
totally agree

beagle3 14y ago

> Exactly right! but if you trade in comex futures then you are still trading in paper - albeit paper gold. I'm not trading gold. I wrote "non bubble futures" (which includes gold - it's definitely not a bubble), but what I wanted to write was "non fictional futures" (gold and silver are fictional in the sense they cannot be settled). Many other commodities actually have a chance to settle most of the open interest should trading stop tomorrow.

wintersFright 14y ago
right - got you.