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View Diary: "79% of investors have no trust in the financial system." (154 comments)

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  •  gold has the same inherent value as derivatives (4+ / 0-)
    Recommended by:
    Floande, a2nite, 3goldens, Jim P

    or any asset that is traded.  the market determines the value, nothing else.  if there's no demand for your asset, or if the market freezes up, your asset is worth approximately nothing.  

    If you don't think that can happen to gold, that suggests there's already a bubble.

    •  Gold (0+ / 0-)

      has an increasing number of industrial uses, so it's not simply a speculative instrument.

      I'm living in America, and in America you're on your own. America's not a country. It's just a business.

      by CFAmick on Wed Jan 16, 2013 at 10:39:04 AM PST

      [ Parent ]

    •  Not so much (0+ / 0-)

      For thousands of years, gold (or silver, or diamonds, etc) have been valued and fungible. Never been the same as (recent invention) derivatives, which in this era are paper promises with a variable tether to reality (see Enron or the mortgage derivs in 2008, and find the spot in history where gold went to zero like these).

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