I heard a couple of commentators on a farm radio station this morning talking about investments for people looking at retirement. They quoted a magazine geared toward retirees as saying that actual ownership of precious metals is a good idea. They scoffed and talked about how expensive gold is, how you can’t buy it for actual spot price (they didn’t use that term), and how it’s illegal to buy bullion because FDR outlawed it to keep people from hording.
Huh!? Who gave these morons a microphone?
Some of their arguments weren’t terrible, but maybe weren’t so great either. For example, gold isn’t a growth investment. Yeah, but when your 401k is in dollars, and the value of the dollar is plummeting, who gives a crap if your fund gained 15% this year? The dollar probably lost more than that, so your net gain is a big fat negative. And they accused the magazine writer of trying to take advantage of the elderly…
Tags: Yeshua