Is Gold a Good Investment?

[JRT]

Never listened to the man.

https://www.c-span.org/video/?58461-...adio-talk-show

[Gun Grape]

I just read this in G, Gordon Liddy's voice.

(If you know, you know)

A trip down memory lane

[Albany Rifles]

Thanks for nothing, Gunny!!!

[JRT]

10 June 2022
Is oil the new gold?

With a strong dollar and rising interest rates, gold may be ceding its position as a protection against rising prices to oil. But should gold be dumped in favor of ‘black gold'?

No, oil is not gold, but I suspect that it may seem so for a while yet to come.

09 June 2022
Crisis in the Oil Market Hasn't Arrived Yet: Blanch

Francisco Blanch, head of global commodities and derivatives research at Bank of America Corp., says oil prices have not peaked yet.

03 June 2022
We are faced with structural shortages in oil, says Goldman Sachs' Damien Courvalin

Damien Courvalin, Goldman Sachs head of energy research, joins CNBC's 'Squawk Box' to discuss soaring fuel prices as President Joe Biden reportedly prepares to travel to Saudi Arabia.

03 June 2022
Chevron CEO on Oil Demand, Costs, Refinery

Chevron Chairman and CEO Mike Wirth discusses his firm's efforts to meet rising oil demand, costs management, and the impact of refinery closures on inflation.

[DOR]

.
No, oil is not gold; oil has many more uses, some of which (lubricants) are extremely difficult to replace with good substitutes. Gold, on the other hand, has uses that are rather easily replaced. After that, we get into the Greater Fool Theory: if I buy this at that price, someone who is a greater fool than I will buy it from me at a higher price.

[Albany Rifles]

No, oil is not gold; oil has many more uses, some of which (lubricants) are extremely difficult to replace with good substitutes. Gold, on the other hand, has uses that are rather easily replaced. After that, we get into the Greater Fool Theory: if I buy this at that price, someone who is a greater fool than I will buy it from me at a higher price.

Okay, I get it...but work with me here.

2 words

tulip bulbs!

[DOR]

Okay, I get it...but work with me here.

2 words

tulip bulbs!

... as I said, the G. F. T.

[Gun Grape]

Okay, I get it...but work with me here.

2 words

tulip bulbs!

2 more words

Beanie Babies

[Officer of Engineers]

2 more words

Beanie Babies

2 more words

I do.

There is a greater fool(s) who married my ex.

[Albany Rifles]

2 more words

I do.

There is a greater fool(s) who married my ex.

I just spit out my beer laughing!

[JRT]

...we get into the Greater Fool Theory: if I buy this at that price, someone who is a greater fool than I will buy it from me at a higher price.

GFT drove much of the rise that was witnessed in speculative demand for the asset class of cryptocurrencies.

[DOR]

Yep. No need to worry about those who lost the gamble; it was never an “investment.”

[JRT]

Yep. No need to worry about those who lost the gamble; it was never an “investment.”

Charlie Munger on the subject:

[JRT]

(link)
19 May 2023
Among central banks, largest buyer of gold in 2022 was Turkey, followed by China ... worth noting that while Fed hasn't been very active buyer in last 20 years, U.S. still has largest reported holdings of gold (~262 million troy ounces.

...