Ignoramus16758 wrote:
On 2010-01-03, John R. Carroll wrote:
Wes wrote:
Ignoramus16758 wrote:

And yet I read countless Leftwingers all ****y and nasty about
folks who bought gold and have sat on it.

So, do you recommend buying gold now? Or what are you saying,
exactly?

I don't know if Jon Stewart was full of chit or not but he was
poking fun at gold sellers on Fox that had a 30% commision.

You might want to reconsider Wes.
He was poking fun at idiots buying and selling gold that were paying
a 30 percent premium to brokers.

Just curious, who are those brokers and where do they operate? I might
have missed something.

Asia mostly and they "operate" in their skivies from a bedside laptop
mostly.
You only have to look at price fluctuations, and perhaps you have, to see
that someting isn't right.
Manufacturers that actually use gold in their product lines pay a pittance
for their supply relative to the spot market.

Gold is a market for children and POG people.

What is POG?

A small round thing similar to a coin that kids trade like baseball cards.
IIRC, there was actually a trading exchange of sorts set up by the Korean
manufacturers at one point. Funniest damned bit of lunacy on earth that was.

http://en.wikipedia.org/wiki/Pogs

Pogs became so popular during the 1990s that thousands of types of pogs were
manufactured, covering a wide array of toys; cartoons; movies; games;
sports; images of famous people on the front of the pogs; images of famous
world leaders such as Former U.K Prime Minister Tony Blair & Former U.S
President William "Bill" Clinton; PA messages such as First Aid safety,
Wiled life Prevention & anti-drug and Fund raising for various charities &
organizations such as The Red Cross & Cancer research and ALF (TV Series),
who returned after many years of obscurity in pog form. The popularity of
the game spawned POG prizes at major fast-food chains (see below), as well
as knockoffs, such as "Slammer Whammers," a similar game released under a
different brand name. Pogs can sometimes still be found on eBay and in game
and card stores. During the early 1990s a US national pog tournament was
held every February 7 in honor of the game's inventor's birthday.



It has absolutely no basis, reality or use in the real world.
Completely Speculative is the best description.

And pays no dividend and accrues no earnings.

It's gambling, pure and simple.
The entire market is driven by rumors in the same way short sellers were
driving equity markets to support their naked shorts.
The only winners are the guys that make the market.
Gold is the worlds persistent Pet Rock.

--
John R. Carroll