Forum Archive Index - November 2003

["ryanrite" <ryanrite@xtra.co.nz>]

maybe you could post the aus.invest for us to view
thanks
----- Original Message -----
From: <tennyson@caverock.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Thursday, November 13, 2003 11:58 PM
Subject: Re: [sharechat] Gold Glistens in the Dark Clouds


> Hi LazyHaggis,
>
> I'll start on a positive note, and even give you some free publicity.   I
> decided to revisit your website ( www.fairshare.co.nz ), and I see that
> you have some quite decent shares in your 'recommended' NZ
> portfolio.   Good stuff.    But now moving on to your continuing
> infatuation with gold....
>
> >
> > Gold continues its upward bound trend, and in a few months the $400
> > breakout will be long gone and so will today's good buying (re-buying)
> > entry points.
> >
>
> I also follow an investment discussion group called 'aus.invest'.
> There is a character there by the name of 'The Wog'  who takes on the
> ' gold bugs', much like I do here.    Now keep in mind I am about to
> quote a discussion on the merits of investing in gold from the
> perspective of the Australian market.  But substitute 'New Zealand' for
> 'Australia' and the argument still makes sense.
>
>
> quote:
> --------------
>
> >
> > ALL currencies are losing value
> >
>
> Relative to what? The goods and services they can purchase? The
> JPY being  the obvious exception because it's in deflation. Relative to
> gold? Maybe, but if so it's very, very slowly. The AUD has been
> debased from about 400:oz Au before and after the 1980 boom to
> about 580:oz Au now. (If I pick the peak of the market, then even gold
> has been "debased" in AUD terms.) I can live with that.
>
> Believe it or not, I don't hold currency just because I like the look of
it,
> and I have very little currency (or deposits directly convertible to
> currency). I briefly hold currency because that allows me to pay my
> broker for assets that go up faster than the currency goes down. As
> long as my assets produce real growth, that outstrips the rate at which
> the currency is being "debased" and therefore that's been an eminently
> successful strategy for me.
>
> How do I know? Because I have the means now to buy more goods
> and services, petrol, nickel, real assets, or even gold (should I ever
> find the need to do so), than I have ever had before.
>
> >
> > A USD will produce 0.80 USD in 12 months time - some proposition!
> >
>
> Actually a USD will produce 1.02 USD in 12 months time assuming it is
> put into a 12 month deposit. That may well be worth considerably less
> in some other currency (such as the AUD), and if that happens then I
> don't care. You see, this is aus.invest - not usd.invest
>
> Nothing personal but I'm killfiling you now to save bandwidth because I
> have no interest in the only topic you're capable of discussing - gold /
> USD cross rate. (And it IS a "cross rate" rather than a price, at least
> around here.)
>
> Wog
>
>  -----------------
>
>
> Couldn't have put it better myself, so made no attempt to change it.
>
> SNOOPY
>
>
>
> --
> Message sent by Snoopy
> on Pegasus Mail version 4.02
> ----------------------------------
> "Dogs have big tongues, so you can bet they don't
> bite them by accident"
>
>
> --------------------------------------------------------------------------
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