Reply to Why did Gold spike after the jobs report?

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[quote=Anonymous][quote=Anonymous]Gold has no intrinsic value. Centuries ago it was prized because it was a shiny metal that did not rust. People used to make statues of golden animals and worship them. How much use does anyone have today for a "shiny" metal that does not rust? Shiny is not impressive anymore. And you can't build anything useful out of gold besides worthless trinkets to hang around your neck or your wrist. It's literally just a lump of shiny metal - you can't eat it, you can't build anything useful with it to help you with in any disaster situation. Gold doesn't may me any dividends, it just sits there like a lump of metal.

Gold is a ponzi scheme - you are just hoping the next sucker comes along and buys the lump of metal from you.

I prefer government bonds that pay me interest. Or quality stocks like Ford Motor Company and Union Pacific Railroad.[/quote]

Exactly! I've been saying for years that gold is a ponzi scheme. It only has value if people pretend it has value. Gold has no dividends. Anyone who buys gold isn't buying it to do anything with it other than sell it to the next sucker! Gold is a scam.[/quote]

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