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Liquidate entire portfolio until virus is over?
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I used the opportunity to buy a couple of infrastructure trusts, a REIT and a private equity trust all of which have recovered well - between 12% and 70%. Except for that nothing has changed - regular SIPP contributions each month.0
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Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:
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I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:
As the article says:The idea of gold being traded and used in place of traditional currencies hinges on an almost apocalyptic scenario.
Coop says: “You can’t buy your fish and chips with a lump of gold, and a lot of pretty extreme things would need to play out for people to abandon their own currency and use gold instead. It’s a low probability game, and you’re a bit late if you decide to play it after the price has climbed so high.
Your continued contention that all fiat currencies are doomed (the word fiat is unnecessary of course, as every major modern currency is fiat and you agree gold and silver are indeed not currencies) is getting a bit tired. The idea that gold is 'proper money' whereas a traditional and legal medium of exchange (like legal tender currency) or a highly liquid and tradeable asset (like a share of Microsoft) is not, is specious.4 -
bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:
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EdGasketTheSecond said:
I'd be cautious of using a definition of money that excludes £10 notes because just about 100% of people would think it crackers.bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:
All that graph shows you is that holding cash over the long term is foolish. Best thing to do is to use it as a means of exchange and buy assets that add value. Like equities - if you overlay stock markets priced in gold since 1900 gold would look like just another fiat currency.3 -
You are confusing currency with money. Check the definitions.Sailtheworld said:EdGasketTheSecond said:
I'd be cautious of using a definition of money that excludes £10 notes because just about 100% of people would think it crackers.bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:
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Sailtheworld said:EdGasketTheSecond said:
All that graph shows you is that holding cash over the long term is foolish. Best thing to do is to use it as a means of exchange and buy assets that add value. Like equities - if you overlay stock markets priced in gold since 1900 gold would look like just another fiat currency.bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:Over 100 years, the dow/S&P500 are approx 4 X the value of gold which is magnitudes better in performance for gold compared to fiat currency:Factor in how overpriced the stock markets are and that a correction is possible/probable, then gold could very well match the performance of stocks over that period extended by a few years into the future.
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I think you need to look at your provided charts again.EdGasketTheSecond said:Sailtheworld said:EdGasketTheSecond said:
All that graph shows you is that holding cash over the long term is foolish. Best thing to do is to use it as a means of exchange and buy assets that add value. Like equities - if you overlay stock markets priced in gold since 1900 gold would look like just another fiat currency.bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:Over 100 years, the dow/S&P500 are approx 4 X the value of gold which is magnitudes better in performance for gold compared to fiat currency:Factor in how overpriced the stock markets are and that a correction is possible/probable, then gold could very well match the performance of stocks over that period extended by a few years into the future.0 -
Yeah, 4 x the value of gold PLUS a hundred years of dividends. Look at the total return comparison - gold is nowhere.EdGasketTheSecond said:Sailtheworld said:EdGasketTheSecond said:
All that graph shows you is that holding cash over the long term is foolish. Best thing to do is to use it as a means of exchange and buy assets that add value. Like equities - if you overlay stock markets priced in gold since 1900 gold would look like just another fiat currency.bowlhead99 said:
I won't claim that the article is very insightful. However, it's your idea that gold is proper money while actual currencies are not, that's the nonsense.EdGasketTheSecond said:
Utter nonsense. Gold indeed is NOT currency, it is proper money which the £ and $ are NOT.Sebo027 said:You are wrong there. The definition of money is:1) Fungible2) Durable3) Portable4) Recognizable5) Maintains ValueFiat currencies clearly fail number 5 and so are not proper money:Over 100 years, the dow/S&P500 are approx 4 X the value of gold which is magnitudes better in performance for gold compared to fiat currency:Factor in how overpriced the stock markets are and that a correction is possible/probable, then gold could very well match the performance of stocks over that period extended by a few years into the future.
That's to be expected because it has zero added value. Unless we've reached the peak of human ingenuity and people aren't interested in investing capital (human and financial) into making things which add value it'll be the same in another hundred years time.
You've taken a short term punt on gold which will or won't work out but a lot of your arguments look like post decision justification.
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