Greenspan the Master.

studyandtrade · Jan 10, 2006

Quote from hairdresser:

Look at corporate profits and the household sector wealth created in real estate, americans are richer than ever before...

Sorry, real estate is a classic super bubble. Are we richer? The purchasing power of my $ is declining rapidly. Why do you think the smart money is buying gold lately??

hairdresser · Jan 10, 2006

how do you know that the smart money is buying gold?

studyandtrade · Jan 10, 2006

Quote from hairdresser:

how do you know that the smart money is buying gold?

The average American thinks like you. So they are NOT buying gold. But gold is rising since May 2001 and in a true bull market. So, who is doing the buying you think?

hairdresser · Jan 10, 2006

gold has no intrinsic value and doesnt pay dividends.

Ivanovich · Jan 10, 2006

Quote from studyandtrade:

So, who is doing the buying you think?

Asians.

I fail to see how this has anything to do with Greenspan.

studyandtrade · Jan 10, 2006

Quote from hairdresser:

gold has no intrinsic value and doesnt pay dividends.

Please tell me what the intrinsic value of the US$ is; if you have a printing press and enough paper you can create it indefinitely!

hairdresser · Jan 10, 2006

Reality is what you make of it. For right now a big bank balance allows you to buy a lot of things.

studyandtrade · Jan 10, 2006

Quote from Ivanovich:

Asians.

Nobody else buying gold? And, why are Asians -and others- accumulating gold lately? Are you telling me that they don't know what they are doing?

studyandtrade · Jan 10, 2006

Quote from hairdresser:

Reality is what you make of it. For right now a big bank balance allows you to buy a lot of things.

yea, but spend your $'s quickly because it won't take long and you have to pay twice as much "paper" for it.

Ivanovich · Jan 10, 2006

Quote from studyandtrade:

Nobody else buying gold? And, why are Asians -and others- accumulating gold lately? Are you telling me that they don't know what they are doing?

I'd say a majority are Asians. I didn't say no one else was. And they're buying gold for a number of reasons - not the least of which is a technical push to see how far you can get it to go (which would be "greed"). I'm not disagreeing with the commentary regarding the falling dollar. Just don't be so quick to point to gold when you want to prove Greenspan's worthlessness.