Gold is up 15%
Actually it’s a shiny metal down underground. So maybe all the other stuff we measure against it is down? Down underground.
17% against the euro.
How does that make you feel?
I feel 1/6 of the 10k I have in my rainy day account went *poof*. Extra taxation.
When did you last get a 15% salary bump?
Do we brush it away with ‘it’s the Chinese’, ‘it’ll come back down shortly’?
Inflation’s being tamed, right?
Well they did something.
Gold was trading around $42 an ounce in August 1971. Something happened and now it’s sitting at $2,342.
Stick those numbers and 52 years into an annualized return calculator and you’ll arrive at 8.04%.
NASDAQ’s up 10.13% per year over the same period, so it’s not like gold’s a brilliant choice.
Just making less than that investing — meaning you lose to grandpa who bought a coin in 1971 and ‘grew’ it under his mattress — warrants the full 4 layers of clown makeup.
In some high trust countries crowdlending nets you ~7%. You’re the chump the instant you wire the money to the platform. And 5% sovereign bonds are just a show of patriotism, right?
