On 2007-11-21 21:13:57 -0500, Larry said:

Jere Lull wrote in news:2007112119214075249-
jerelull@maccom:

I understand your sentiment, but I was around in the 70s when it became
legal to own gold again -- and the price bounced to $800/oz on
speculation. The current valuations are simply speculation by the worst
of the pessimists.

This is no bounce. It has been a steady, until the last 3 months, climb as ...

And it wasn't a "bounce" then, either. '-)

Which isn't to say that if you have enough stashed away to retire
permanently that it would be a bad idea to convert it into something
based upon the valuation of gold.

The amount of gold it would take to buy a mid-range BMW or similar
vehicle has been surprisingly (to many) constant over the last few
decades when expressed in ounces of gold.

Personally, I prefer to bank on economies, so currently stash most of
my retirement funds into low-cost derivatives of the US and foreign
markets, primarily asian right now, but I was "big" on the EU a few
years ago when the euro was valued less than the US dollar.

I'm considering shifting most of my investments to those based upon the
US economy now, since the dollar is so reasonably priced.

--
Jere Lull
Tanzer 28 #4 out of Tolchester, MD
Xan's pages: http://web.mac.com/jerelull/iWeb/Xan/
Our BVI trips & tips: http://homepage.mac.com/jerelull/BVI/