“my sword crashes through your breastplate
splashes the blood across your scared face
drops leave a trail in the snow
showing a clear trace…”
I have been thinking and talking and watching gold for a long time, but I never had the cash to actually buy any and join the club. But I did recently buy a bit. And now what that has done is invest me in the fortunes of the world economy like never before.
before, I just said things like: we need an apocalypse. You know, to put myself on the hip, hippy side of things. Always talking about Wendell Berry and his cries for us to “get local” and thereby enrich our lives.
So it was a lot of talking basically. But now I talk a little less and read a little more. There are a couple things that have struck me recently and at the risk of sounding like “that guy who bought gold” who is constantly yapping about the price cuz he’s nervous … ahem … well I am going to talk about it.
Gold has risen about 200% in the last five years. A steady rise from $400 or so to the $1800 price these days. Recently there was a dip in the price, something that happens often, and that’s when I bought.
Now for me, gold is both a safe place to put my money and an investment. I am acting under the assumption that gold will not fall dramatically. Sure there might be dips, but only small ones as the gold price continues to rise.
Now why would I think that?
the truth? because that’s what the people say. I have no clear idea of whether or not the price of gold will rise, drop or become irrelevant when the aliens show up.
here’s what I have read so far:
Right now the major gold demand comes from two spots: China and India, both as investors and as bling buyers.
A lot of Chinese and Indians have to buy bling in order to keep the growth rate as is – if either nation trips up, then more than 50% of the gold demand disappears and plop!, there goes my cash money.
The gold standard is now “on the table” because fiat currencies like the dollar are on the brink of collapse.
So in buying gold, I am pressing my shoulder against the boulder of the global economy and pushing it closer to the edge. I want it as close to the edge as possible, so I don’t lose all my money – a recovery means the currencies rise in value, thereby depressing the price of gold – but a true collapse into pre-industrial chaos would probably mean a loss of equity as well… (ahh how seductive the words of the system sound!)
Once it made me feel a burst of warm schadenfreude when i heard about crashes and defaults and recessions because as a hippy in a world run by MBA grads, I want the system to fall.
but now that I am truly invested, a collapse seems much scarier than it did when I was just a slack-off half-hippy dreaming of bonfires and and wide open green spaces where once there were cities.
Now I wonder. And read…
6 thoughts on “Daddy bought gold o.O”
I like gold but am reluctant to invest in anything that’s at an all-time high.
Also, did you get physical bullion or certificates? There are a lot of ways to invest in gold.
We love gold, but silver is also now looking like a great buy.
Hey Mark, yeah I also bought silver and will prob make another purchase here soon. Its hard to foresee what will happen, but as long as the US economy sucks, then gold cant fall really. That’s my very limited understanding 😉
I think more people should invest in frogs. Frogs as a currency is just entirely underrated. They go up and down, they’re green, people that handle them become slimy, they undo flies, and they’re becoming rarer and rarer.
Frogs man, frogs are the future.
Bees would also be a potential investment, though they’re more difficult to handle. The colour is suitable and the buzz is good though.
Indeed, Obama’s coming jobs speech will address the frog issue, the lack of a general buzz in America today and what the gov is unable to follow through on to amend the situation.