I've read nearly all the arguments for gold. I have no need for convincing of the soundness of holding gold.
But I thought it would be interesting to try and list all the reasons why gold is a bad idea.
First a list of the reasons (those all the anti-gold people repeat tirelessly). Then maybe we can test those assertions against reality.
So, no pro-gold comments please
I want all the reasons why it's madness to consider gold. You must be able to think of what others have said or come up with something.
Here's my first attempt:
1. Gold is in a bubble.
2. It's just speculation.
3. Gold doesn't pay interest.
4. x, y & z (whatever they wrote) are just gold rampers (so ignore everything they write).
5. You're only talking about gold because you want other mugs to buy it to push the price up so you will make a profit.
6. The gold market is manipulated so it will never go up.
7. The gold market isn't manipulated (I know, 6&7 are often used at the same time).
8. Gold is just a commodity (it's not money).
9. Oh I guess that also means: gold will go down with all other commodities due to deflation.
10. Gold demand has been falling steadily for x years.
11. Or: gold demand (excluding investment demand) has been falling for x years.
There must be more!
12. Other investments (like houses) are a better investment.
13. The central banks will sell gold and knock the price down.
14. Interest rates will be raised and gold will plummet.
Maybe there's a "green" aspect to anti-gold sentiment as well, so:
15. Buying gold just keeping energy intensive and polluting gold mines going.
Thank you bakachu
16. Gold will be made from lead soon (the Large Hadron Collider gains the ability to produce gold).
17. A large gold discovery would knock the price.
18. A world depression would knock the oil price and make mining gold much cheaper, and so knock the price.
19. There is no mechanism for gold to reach high prices. (I'm not sure what this would mean, but presumably: no on has any money, or no one would buy if the price went up, or some other reason why the price can't rise very much)