"They have told you to buy stocks, but stocks were higher in March 2000 than they are today"
Economic analyst Gary North answers the question "Who are the experts on gold?" and - more importantly - who are the nonexperts:
"The experts on gold are the people who publicly recommended that investors purchase gold when gold was under $300. They recommended that people purchase gold when gold was at $300, $400, $500, $600, $700, $800, $900, $1000, $1100, and, finally, $1200.
"The nonexperts on gold are the people who never told investors to invest in gold
at any price, and who are now saying that gold is going to decline in price, and therefore it is not a good investment. ...
"When we hear on the financial media that some expert has said that gold has peaked or soon will, so that anyone who invests in gold today is taking a terrible risk, we can be sure that this person did not tell people to buy gold at any time in his career. That person is a standard knee-jerk gold hater. ...
"If you trust the government to tell you the truth, then you probably also trust the proclamations of these self-appointed experts in gold, who never told anybody to buy gold, that gold is a bad investment. These people have been wrong for a decade. They have told you to buy stocks, but stocks were higher in March 2000 than they are today. They told you not to buy gold in 2000, if they even mentioned gold in 2000, and gold is up over 4 to 1. These people missed the investment of the decade, and they told you to buy and hold stocks, in what was a bad investment for the decade. It would have been a better investment to stick your money into an FDIC-insured savings account and leave it there. You would be ahead of the game. You did not need these experts in gold or experts in stocks to tell you what to buy, because they did not know what to buy.
"They are spinning the same old party line today about buying and holding stocks and not buying gold
that they were spinning in the year 2000. They were wrong then, and they are wrong now."Read Article