Zeev's Turnips Patch-No Politics (ZEEV)

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I'm not worried about the intrinsic value of Gold because I know the price will never get anywhere near there. Gold will always have currency value.

My point is that the intrinsic value will also never serve as support for the market price, because they will always be too far apart. Thus, the price of gold will always be determined either by the value of the $US relative to other currencies, even if all currencies are simultaneously losing value, or (in our wildest dreams), it will be determined by "sentiment" (i.e. panic), like back in 1979.

BTW, I posted that I'd changed in one third of my huge GLD position for VGPMX. Actually, it ended up being more like half. I don't know the mix of metals that VGPMX holds, but gold must not be a very large percentage, because VGPMX hasn't moved in close step with the POG. I know that VGPMX's charter allows it to get into uranium (and that they have a sizable position), and I'm looking for them to take advantage of a super bull market over the next decade or so...