We are a commune of inquiring, skeptical, politically centrist, capitalist, anglophile, traditionalist New England Yankee humans, humanoids, and animals with many interests beyond and above politics. Each of us has had a high-school education (or GED), but all had ADD so didn't pay attention very well, especially the dogs. Each one of us does "try my best to be just like I am," and none of us enjoys working for others, including for Maggie, from whom we receive neither a nickel nor a dime. Freedom from nags, cranks, government, do-gooders, control-freaks and idiots is all that we ask for.
I know that people have a tremendous faith in gold but I wonder why. I've studied economics in college although I've never majored in it or taken a degree in it. But I do understand that gold is just a medium of exchange; it has very little inherent value as a commodity. You can't eat it and its uses in engineering are interesting but limited. It is not actually a store of value, like an inventory of buildings or factory equipment. Stocks at least have some relationship to assets and their potential value.
In reference to VDH observations, anyone who was born in or near the Great Depression [I was born in 1928] has a great respect for gold as a medium for exchange, and probably also has a strong element of pragmatic peasant in his/her make-up.
American citizens had, classically, an ability to repair, re-use and mend things they owned until said things were completely worn out. When I was in grade school we had Home Economics classes every week, just as the boys had Shop/repair/woodworking classes and most boys emerged as good "shade-tree mechanics." We girls learned basic cooking skills; we learned to sew seams and cut cloth so we could make our own clothes; we learned to darn socks to repair holes in them; we learned to knit so we could create socks and sweaters -- in short, we became competent in homemaking skills, along with English grammar and literature, World history, American history -- you know, all the Good Stuff that the educational system no longer teaches to today's children.
You know, it fascinates me. Today's National Education Association feels perfectly competent to intrude on a family's private lives to instruct their children on all sorts of things which used to be the purview of the Mother and Father of the family ... things such as sex education and when to give it to the child, such things as instruction in politics [another area formerly reserved for parental instruction and considered one of the basic American freedoms]. In today's American schools, nothing is sacred to the family and what traditions they choose to impart to their very own children. The NEA has decided that the children are their responsibility and they can instill in them any darn thing they want, in the way of half-baked political ideas.
Cast your minds back to the early days of Obama's Presidency, when elementary school teachers were wasting classroom time on teaching little children to sing sappy songs in praise of Obama.
This is too damn close to the Hitler Jugend for my comfort.
The gold hedge against the economy is simply buying a commody. Lead, food, real estate, etc. are the same. All are valued in terms of dollars and fluctuate with demand. A commody may have other uses that gives it an additional value outside of the dollar exchange rate. Dollars are not valued in terms of gold oz. but gold is valued in terms of dollars. Making the dollar the measure of the value of gold. JP