GOLD Mythology, If Gold keeps rising it may be worth a pair of Goats someday!
Monday Jul 6 2015
Whether it be a Goose that lays Golden Eggs, Golden magical harps, or Black Beard the Pirate's Treasure, Gold has been a popular symbol in mythology throughout time, But is this reason enough for such a high value being placed on it? There is a lot of jewelry around the world made out of Gold, but at $1200 an ounce, all of the jewelry in the world would only make up a fraction of that price. So what determines most of the value? Psychology…emotion. 

Gold is the safety favorite of about 90% of the Investment Advisors I interact with. They all devote a chunk of the typical allocation of client investment/retirement accounts to Gold as alleged safety. These people are well-known, well-educated advisors. We’ve all read the articles, and seen the television commercials telling of Gold hitting $10,000 or even $20,000 an ounce! It has been warned for years by well-known advisors!

Lets say Gold reached $20,000 an ounce. What would have to happen in our economy to warrant this price? Total collapse. I’m going to risk an out lash from Gold enthusiasts here, but frankly, I am sick of hearing only 'one side of the “equation” on Gold. Gold can never be valued at $20,000 an ounce based on the value of today's dollar, unless of course, the United States went back to the GOLD STANDARD, or some technological advancement used Gold for some miraculous device like Time Travel. I don't see any likelihood of a Gold breakthrough technology though.  If Gold went from the present $1200 an ounce to $20,000 an ounce, the economic forces causing that dramatic rise would have already taken their toll on the economy and more importantly society. Frankly, there would be no economy left. People would be bartering bullets, grain, and farm produce etc. The Mad Max movies would be a close facsimile. Facts are facts, people. Time travel yourself to a dark future where society and the economy has shattered to the point that made Gold rise to $20,000 an ounce in value. In this dark age wouldn't a breeding pair of Cows, Sheep, or Goats still be worth more than an ounce of Gold?

So why don't the experts tell us to invest in a herd of goats rather than Gold?

Steve Casull, CEO Casull Financial Advisory

Labels: gold investing gold in an economic collapse gold truths investing in gold gold value