Ted, if you think anything I've stated is incorrect, don't beat around the bush. I've tried to stick to easily verifiable facts: London gold prices, the S&P 500 and the Consumer Price Index. Without any specifics, your complaint sounds like sour grapes. I'm sorry if reality doesn't want to cooperate and line up with your preconceived notions.
I have no problems if people want to own gold. It doesn't make much sense to me to be buying the stuff while its price is plummeting any more than it made sense to hold a lot of Deutschmarks in 1923, but that's your business. What I DO have a problem with is when folks here recommend gold as an investment, which is exactly what happened for the Nth time a few days ago.
Sure, there have been plenty of cases of hyperinflation in the past century, but just because it has happened in countries such as Argentina (which issued new currency) and Ecuador (which switched to the US dollar) doesn't mean it will happen in the US anytime soon. In fact, the dollar has proven to be pretty resilient. In the past five years it has weathered the biggest economic crisis since the Great Depression, record-high budget deficits and two attempts in Congress to default on US debt obligations. Sure, another crisis might come along and strike a fatal blow to the greenback, but I can't imagine what that might be.
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Today's Featured Article - Hydraulics - Cylinder Anatomy - by Curtis von Fange. Let’s make one more addition to our series on hydraulics. I’ve noticed a few questions in the comment section that could pertain to hydraulic cylinders so I thought we could take a short look at this real workhorse of the circuit. Cylinders are the reason for the hydraulic circuit. They take the fluid power delivered from the pump and magically change it into mechanical power. There are many types of cylinders that one might run across on a farm scenario. Each one could take a chapter in
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