Are you buying Gold?

Hi,
well, are you? The gold market fascinates me and my dad. He phones me regularly from Toronto to make sure I'm up on the latest price high. I inherited his obsession. I don't sit and watch it on CNN or Bloomberg like he does. I haven't the inclination to watch grass grow either, but golds' growth in price sure is interesting.

Why gold you ask? Why not. Nothing else is offering the same kind of return these days and the way the US dollar is sinking I'd rather have something that is not only holding its value but rising at an amazing speed. I can hardly keep up. Five years ago a few annalists were predicting gold would hit $2000 an ounce. At that time it was reaching $600, up from the $350 it had been languishing at for a decade or so. I thought they were a little crazy but I could see it hitting $1000/ounce, maybe. Should have, would have, could have.... ain't it always the way. We did buy some then, in hind sight I wish we'd bought a whole lot more. 

We have continued to purchase gold for the last 7 years and I am glad we did. It's hitting that $2000 mark and looking like the sky is the limit. We all know that there is a 'limit' to what it will rise to but the trick is knowing what to do with it when it plateaus out or starts to readjust in a downward fashion. ... and it will. It always does. Everything does.

I just happy I didn't buy into the first 'dot-com' useless paper IPO in 2008, nor am I buying in now. Google, Zynga, Facebook, MySpace.... they are 'air', they make nothing and produce nothing of true value. Here today, probably gone tomorrow. The consumer is so fickle it is difficult to predict what will happen to any of these companies. Google is trying to buy Motorolas' phone business. We'll see if that is finally allowed... can you say 'monopoly'? I don't think certain industries are anything but monopolies, we just don't notice them as much. My point is that I'd rather have the security of gold, an international measure of wealth, than Google shares right now.

I may not have the Midas touch or find that goose who lays golden eggs, but I know where to find our stash in a flash.

xox
m