GOLD 0.20% $1,229.1 gold futures

Ridiculously overpriced

  1. 1,596 Posts.
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    We have all been brain washed to believe that gold has this "intrinsic" high value.
    This is an anachronism .Since the USA abandoned the gold standard gold is nothing but an overpriced commodity.You cant eat it (c.f wheat) you cant make a suit out of it (c.f wool ) in fact you cant do much with it except make shiny rings and beads.Reminds me of the shiny glass beads our ancestors used to swindle
    the natives out of their land.
    Gold is dug up and then mostly burried again in vaults and safes .The only reason gold is not at $35 an ounce is because it forms part of bank and national reserves so the price is kept artificially high.But most banks are slowly getting rid of it. Time will tell.
 
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