Monday, January 31, 2005
I added the spot price for gold to my side bar for my convenience but, if someone else finds it useful, great! I started investing in some gold and other precious metals a couple of years ago as a hedge against our declining dollar and ridiculously low interest rates. So far, so good. My initial gold purchases were at about $320/oz and, as you can see, it currently resides in the $420/oz range. If gold repeats its cycle from the 1970s, I'll be a very happy camper. I could go on a long rant about the inevitable doom of the fiat currency system, but I'll leave that part to your imagination. Simply put, I like having some gold, because I know that it will always have value, as it has for thousands of years. Whereas, paper money is nothing special. It's just paper. Someday it could all be worthless. I hope not, but who knows?