BTW, all this discussion about the wealthy reminded me of something that happened in my office last week.
I was talking with a peer about gold and the economy. He mentioned that he was still kicking himself over not buying gold when I "first" recommended it at $1,000.
Since he's only known me for a couple of years, I pointed out that I'd actually been advocating gold's purchase for nearly ten years, starting at $325 and continuing ever since.
"You think it's too expensive to buy today," I said. "But that's ALWAYS been the excuse people have used. Whether it was $325, $500, $650, $990 or $1,200/oz, people I've talked to haven't bought any. In a few more years, I think you might remember this discussion and kick yourself for not buying gold at $1,500."
His response was, "You bought gold at $325? So, are you, like, THAT rich now?"
I had to laugh. "No," I said. "But you're THAT poor."
And that ended the discussion. I knew that he didn't understand my point. He is very liberal and, as I often find, quite smug in his view of the world and how it should be. As such, I doubt that he CAN understand something that is diametrically opposed to his core political beliefs.
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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