This post is interesting. Although I'd never call myself an expert, in the last few years I've read a lot of books on gold, silver, money, the economy, and the way government interferes with the markets. I believe that gold & silver definately have a place in ones investment portfolio, but it isn't what you can make money with. Precious metals should be used as a store of wealth you've already accumulated. They have the ability to retain buying power as inflation increases. Those who say that gold is just another commodity like oil, land, crops...etc. are right, however it is the commodity of choice. Compact, easy to carry and store (and hide). Those of you naysayers consider this: What caused the biggest movement of settlers westward in the 1800's? GOLD What did the Spaniards send home from the conquest of South America? GOLD & SILVER !!! They didn't send home beans & rice or land. Ships laden with tons of gold & silver. Why was that? What did the Egyptians bury their kings and queens with? GOLD !!! The reason for this is simple... gold wasn't invented or made by anyone. It came to be what it is because of it's physical properties, in addition to countless billions of transactions between individuals that determined that gold, and later silver were the items that kept their value. One could be confident in accepting gold in payment, that they could use it at a later time buy an equal value of items. It's still true today. My bet is that if gold ever goes down dramatically in price, the cost of other items such as gas, milk, bread...whatever will also go down, thus the retention of purchasing power. I'm not a gold nut, but I do own some as well as some silver. I also have a little land and an IRA. The smart thing to do is diversify, and that's where owning some precious metals come in. From what I see in the U.S. economy as well as world conditions in general, I think that even at $1200 gold is underpriced. I won't put all my cash there, but I will be buying more, as well as silver. Jeff
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Today's Featured Article - A Lifetime of Farm Machinery - by Joe Michaels. I am a mechanical engineer by profession, specializing in powerplant work. I worked as a machinist and engine erector, with time spent overseas. I have always had a love for machinery, and an appreciation for farming and farm machinery. I was born and raised in Brooklyn, New York. Not a place one would associate with farms or farm machinery. I credit my parents for instilling a lot of good values, a respect for learning, a knowledge of various skills and a little knowledge of farming in me, amo
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