Originally Posted by
Skol
Stevo,
What we are discussing is the goldbug fantasy that over the long term, gold is a 'store of value' and a '5000 year currency' and a few other nonsensical labels I've heard, is simply untrue, as above. It has done well over the last few years, why I don't know, but it did well in 1979 too, until 1980, when punters decided to stop buying.
The other goldbug fantasy is that 'central banks are buying gold'. It's not true. This I guess assumes the central bankers know more than anyone else which is also not true.