Bloomberg: The Real Cost of Owning Gold
All That Glitters
"For some people, gold is an investment. For others, it's a
religion. The latter aren't satisfied with a gold fund. They need to own
the metal itself. "People buy physical gold usually for one of two
reason," says Peter Hug, director at Kitco Metals, a Montreal-based
precious metals dealer. "One is privacy: They don't want anyone to know
they have it. Secondly, they're worried because newsletter writers since
the '80s have been saying the government's going to confiscate your
gold, the world's coming to an end and you're going to need gold to
barter." Acting on such fears come at a price."
Yes, owning physical gold is a matter of religious belief. How crazy is that? Yes, for the billions of people world wide in China, India, Europe, who believe that owning real physical gold is the only safe way to secure wealth against government seizure through inflation - physical gold is just a crazy religion.
Almost like believing in God. Or believing that the material world exists outside our own mind. Or believing that Time exists objectively outside of the space/time continuum. Or believing that books printed in the seventeenth century were in fact dictated to humans by GOD two thousand years earlier? Who would believe anything crazy as that?
How stupid can people be? Don't they get that the government-sponsored paper money is the only REAL MONEY? Don't all those silly Foreign people understand that they have to pay REAL PAPER MONEY to own, and store their religious gold?
Jeesh! Get with it people! If you are going to waste your time with gold at least buy Paper Gold. I mean, have a little Faith in the Paper System. Those guys selling you paper gold are good honest trustworthy Americans. Put your religious belief in them.
Yes, owning physical gold is a matter of religious belief. How crazy is that? Yes, for the billions of people world wide in China, India, Europe, who believe that owning real physical gold is the only safe way to secure wealth against government seizure through inflation - physical gold is just a crazy religion.
Almost like believing in God. Or believing that the material world exists outside our own mind. Or believing that Time exists objectively outside of the space/time continuum. Or believing that books printed in the seventeenth century were in fact dictated to humans by GOD two thousand years earlier? Who would believe anything crazy as that?
How stupid can people be? Don't they get that the government-sponsored paper money is the only REAL MONEY? Don't all those silly Foreign people understand that they have to pay REAL PAPER MONEY to own, and store their religious gold?
Jeesh! Get with it people! If you are going to waste your time with gold at least buy Paper Gold. I mean, have a little Faith in the Paper System. Those guys selling you paper gold are good honest trustworthy Americans. Put your religious belief in them.
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