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Sunday, October 05, 2008 9:23:01 PM
"It's (ETF) lot easier to sell than the gold you keep in your sock drawer," he said. (end)
Notwithstanding the question of whether gold ETFs are safe or cleverly fictive forms of gold ownership, ease of selling an ETF can itself be a problem. Bob Chapman, Doug Casey and others have raised the obvious though oft overlooked point that an investor, driven by errant impulse or passing emotion, is far more likely to sell his/her gold ETF than the physical metal. Sells of physical are deliberate and thoughtful acts. Inertia tends to keep an investor in solid with physical gold and prepared for inevitable day of reckoning vis a vis the Fiat Paper Empire. Romance, phooey! In this day and age, a click of the mouse could lead to years of regret.
http://www.telegraph.co.uk/finance/financetopics/financialcrisis/3123775/Financial-Crisis-Rush-for-gold-as-savers-queue-for-bullion.html
These are my opinions and sentiments only. Take them for what they're worth. Do your DD. Buying stocks is risky!
"If we could sell our experiences for what they cost us, we'd all be millionaires." -Abigail van Buren (a/k/a Dear Abby)
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