The Gold Debate
Want to know what to think about gold?
So do I.
As best I can tell, here are the opposing camps’ two best arguments:
I hate gold. It does not pay a dividend, it has no value, and you can’t work out what it should or shouldn’t be worth. It is the last refuge of the desperate.
–Investor Jeremy Grantham
Just because the lifeboats leaving the Titanic are crowded doesn’t mean you shouldn’t be on one of them.
–Commodities trader on CNBC, who was asked whether it was worrisome that gold was becoming “an increasingly crowded trade.”
My thoughts on gold are already on record (“The Gold Tax“).
As they say, “you pay your money and you take your chances.”