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JustWaitAFrekinMinute

On 6/27/2013 5:45 PM, Wayne.B wrote:
On Thu, 27 Jun 2013 16:59:48 -0400, JustWaitAFrekinMinute
wrote:

On 6/27/2013 4:47 PM, wrote:
On Thu, 27 Jun 2013 14:07:46 -0400, iBoaterer
wrote:

Gold is not a necessity and once the bubble bursts. the gold in the
market now is enough to supply actual need. When gold is a decreasing
asset, that jewelry will lose it's luster and a lot of it will be
melted down ... as it has been for thousands of years. Simply the fact
that the bubble price drove miners to exploit tapped out mines and
make that profitable does not imply that the market cost of the gold
would support it if people were not expecting a price increase and
stopped buying.

Gold is money, money is a necessity in this world today.

Gold is not money when there is this much irrational speculation. It
is like the people who said real estate was money.

You got that right... I bought a house on that premise in 1990, bought
it for 90,000. A bit over a decade later it was worth 235 but I made the
mistake of not selling then, now it's worth 180 again, but I won't get
that for it.

===

Real estate has *very* high transaction costs and long transaction
cycle time.

When we came in we had a plan to keep the house for 20 years.. We paid
ahead and extra the first 15, then when we moved up here we made the
mistake of keeping it to rent to a friend.. who is no longer a friend...
If we had stuck to our plan we would have bought in 1990 for 90grand, 6%
interest (average), if we sold when I wanted to we would have gotten 230
for it which would have covered the fees nicely

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