Tuesday, Nov 18, 2008
Adrian Ash talks sense
Safe Haven: The Descent of Niall Ferguson
"The twilight of gold appeared to have arrived," claimed Professor Ferguson, stepping out of the lecture hall and into his gypsy fortune-teller's tent, in his 1999 tome, The Cash Nexus. "True, total blackout is still some way off," he forecast, and "gold has a future, of course, but mainly as jewelry."
Posted by sold 2 rent 1 @ 11:39 AM (602 views) Add Comment
6 Comments
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1. harold said...
Vanity, all is vanity.
2. James said...
Ramp, ramp, ramp, luvverly ramp, ramp, ramp
Wonderful ramp!
Luvverly ramp!
Not working, though, is it?
3. digdug said...
A time is coming when anything of intrinsic value should be held.. that includes houses..
4. titaniccaptain said...
Yes digdug good point
5. quiet guy said...
@James
I wouldn't be so harsh towards S2R1 about his enthusiasm for gold which might prove to be a good wealth preserver in the next few years.
(and no in case you're wondering, I haven't bought any of the shiny stuff myself)
6. James said...
quiet guy - his enthusiasm for gold extended to telling people to buy at $1k/oz - which some did - as it was sure to go to $1.5k/oz by the end of June. Of course he was wrong.
Full disclosure - I do own some gold myself, which I bought a couple of months ago. It's worked out *very* well as a hedge against the falling pound in the past month. Course - s2r1 thinks that's irrelevant as he doesn't like to think of his lovely shiny stuff actually being just another dollar asset...