You could have put money into anything – – anything at all – – over the past six years and done better than gold. Real estate………stocks……….kitty litter. Gold has been a total piece of garbage, and I’ve got a sneaking suspicion that gold bugs have finally up to “here” with the so-called precious metal and are just jumping over to cryptos. Here’s this miserable piece of crap:
Those who love gold must feel horribly betrayed, particularly as they look at Bitcoin. The same money put into cryptos instead of gold would have yielded millions………if not billions (given enough starting capital) in profits, whereas gold has just withered away like a maple leaf on an autumnal sidewalk. It’s no different for the miners, of course.
The reason I think of these two (gold and bitcoin) together is because the zeitgeist is sort of the same……..(a) anti-government (b) anti-central bank (c) safe haven (d) contrarian. Gold has betrayed its zealous following, whereas Bitcoin has made its adherents incredibly rich.