Gold? Fuggeddaboudit!

After the financial blogs of the past two nights, let me pass on another warning about the approaching housing market disaster: I’ve have lots of questions about using gold as a hedge against whatever is coming.

Please listen carefully: Do not! Do not! Do not buy gold unless you truly understand it, which I seriously doubt anybody does!

Look at the charts linked below: every peak represents a person who’s won a fortune in gold investing at the right time. ┬áBut that subsequent valley represents an investor who’s lost a fortune in gold investing. If you think you can time the market you’re just flat out wrong. Many’s the speculator who bet on gold to hedge a collapsing economy and ended up as a net loser.

If you ever see that I’ve made a fortune in the gold market, then I give you carte blanche permission to tell everyone, “Ward cheated. He’s a liar. He’s a shyster.”

Betting on gold is worse than going to Vegas. Stay home. Pay the bills. Buy some emergency rations, enough to last your family for a few months. Don’t go nutty on me. We who are questioning the HOA debacle aren’t survivalists. (I have serious doubts that a survivalist can survive much of anything, anyway.) We’re just carefully analyzing an approaching disaster that every economist in the country is talking about… and puzzling over. There are just no clear answers. But I guarantee there’s a phalanx of con men out there being trained to take advantage of your fears.

(is gold really a good investment?)

http://www.telegraph.co.uk/finance/personalfinance/investing/gold/10019128/Is-gold-really-a-safe-haven-asset.html

 

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About

Ward Lucas is a longtime investigative journalist and television news anchor. He has won more than 70 national and regional awards for Excellence in Journalism, Creative Writing and community involvement. His new book, "Neighbors At War: the Creepy Case Against Your Homeowners Association," is now available for purchase. In it, he discusses the American homeowners association movement, from its racist origins, to its transformation into a lucrative money machine for the nation's legal industry. From scams to outright violence to foreclosures and neighborhood collapses across the country, the reader will find this book enormously compelling and a necessary read for every homeowner. Knowledge is self-defense. No homeowner contemplating life in an HOA should neglect reading this book. No HOA board officer should overlook this examination of the pitfalls in HOA management. And no lawyer representing either side in an HOA dispute should gloss over what homeowners are saying or believing about the lawsuit industry.

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