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Gold Price Myths

An eight-year-old bull market in gold has spawned more
erroneous theories and timing calls along the way than you can
count. We break it down to the Top Eight Myths and recount the consensus opinion
on gold since the bull began in 2001.

Here are eight popular myths about gold that we have collected since 2001 when we put
15% of our portfolio into the yellow metal (with the iTulip counter-argument in

A. Earns no interest. (Gold has out-performed stocks and bonds every year since 2001 in
real terms.)

B. Performs poorly on the long term. (True, unless the currency is in long term decline
due to structural economic imbalances and negative interest rates are maintained for
extended periods to stimulate economic growth of the imbalanced economy.)

C. Better inflation hedges exist, such as TIPS. (Inflation is a secondary effect of a weak
currency. Gold hedges dollar currency risk directly, inflation risk indirectly; dollar
denominated bonds cannot.)

D. Is money (In order to qualify as money gold must act as both a store of value and
means of exchange. We use cigarettes in a prison as an example. You must convert gold
to dollars before you can make purchases in the U.S. so gold only meets the first criteria.
Gold is a currency. We call it the Fourth Currency because it competes with the dollar,
euro, and yen in international currency markets.)

Continued at: http://www.itulip.com/images/iTulipGoldMyths.pdf

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A private contract can be written to be payable in...

tulips if you like. I am seriously considering writing my new international contracts to be settled in specie...
The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.

The Liberty a society retains is inversely proportional to the number of Lawyers in the Government.

Apparently you can use gold

Apparently you can use gold directly to buy a house. Start at 4:55


Peter Was Right - Experts Were Wrong

This is a great itemized list of how the pundits all got it wrong on gold. I loved it.

i thoroughly enjoyed that