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Gold continues to climb to record highs on Wednesday, boosted by the Federal Reserve's comments that it would continue to ease monetary policy, if needed, to aid the U.S. economy. Continue reading Gold Reaches Record Highs: A Good Time to Buy Gold Mining Stocks?
The mythical lore of gold dates to the dawn of man. Whether for jewels, religion or currency, gold's place in history is quite secure.
In the modern day, gold has become more about safe havens for fear mongers ready to declare the end of the world.
These folks will have you believe that the U.S. dollar will be worthless due to inflationary pressures arising out of a printing-press monetary policy. And that the collapse of U.S.-style capitalism necessitates a return to the one thing that we can count on to hold value no matter the circumstances.
Hogwash! Why not just make granite or bricks the de facto currency of choice. Ridiculous, right? But seriously, tell me the difference.
Of course, gold means so much more to the lunatics that believe the precious metal will solve all of their problems. What a joke. The only real utility for gold is aesthetic. The stuff looks nice in the form of baubles and chains. Beyond that, there is little true value.
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