Buying Gold is for Idiots

June 21, 2012 7:48pm
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I can’t stand all of those commercials on TV telling people to buy up precious metals like gold and silver.

And it’s not necessarily because of any investment strategy, per se – in all truth, I have no idea how stuff like that actually performs against traditional stocks and bonds and whatnot.

No, in reality I think I just hate these commercials because they pitch gold as the thing to buy, as if the world is on the brink of collapse and in the new world, gold will be the only thing that has any value … not those false idol greenbacks you’ve got stuffed in your wallet or worse yet, some mysterious bank balance that a corporation “claims” that they’re holding for you!!!

It’s always the same shot – some guy wearing a flannel shirt is putting another stack of gold coins into his safe … there’s typically a shotgun mounted on the wall with a dead animal of some sort right next to it … and he knows where his money will be when the world market collapses.

You know the commercials – they run on FOX News in between ads for Liberty Mutual and the one about getting dia-beet-us supplies through the mail.

I guess the core reason that they bug me is pretty simple. You know what the only thing that has any value will be if our economy collapses and civilization is thrust back in time 200 years???

It’s FOOD.

You can’t eat gold bullion, and nobody is going to care about trading your worthless rocks for chickens and fish!

Maybe you can make bullets out of it or something, but something tells me you’ve already got a whole separate stockpile of those anyways…

That’s all I’m saying. If you want to buy gold for actual investment purposes, then be my guest, but if it’s simply because you think you’re obtaining a more tangible form of currency that will outlast coins and paper money, you might try re-focusing your efforts on corn just the same.  😕

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