Gold gives the gold market its value. Posted by James Randolph on November 24, 2011
Buy Gold on Black Friday
November 24, 2011 – Thanksgiving is the quintessential American holiday, but, instead of celebrating the conclusion of today’s festivities by freezing outside Wal-Mart at 3 am, mark this year as special by buying gold. The festival of gathering in the bounty of the season’s harvest is honored by time. And I appreciate the philosophy behind our ability to take our wealth, for which we have worked, and spend it according to our desires.
But there is some cause to have concern over certain trends of spending. An example would be the ludicrously easy credit that was extended to everyone a few years ago. Barely a day went by where the mail would come and not contain at least one new credit card. This may have been part of what gave some Americans an imperfect notion of wealth that extends to the quality of the goods we choose to buy.
Food is an example of a good that makes sense to buy. I am pleased to exchange my wages for high quality food. I am further pleased when I can share that food with my family and with those I love. However, I know that this Black Friday there will be masses of Americans huddling up to purchase goods which do not contribute to the health and true quality of their lives or the lives of those around them. Is another plasma screen really going to give you pleasure six months or a year from now?
No, it is not going to give you much pleasure at all. Nor will it give you pleasure to know that the moment you pay for it, that thing drops 30 percent in value. The same with new cars, campers, and most electronics. The second you pay for it, or, God forbid, sign for it, it is worth less.
Gold is the absolute opposite. It represents a philosophy of wealth that does not rely on abstraction but on intrinsic value. Gold will always be valuable. The gold market, for all its bells and whistles, is really just a gauge for how much gold is worth at any one given time. The gold market does not give gold its value—gold gives the gold market its value. I like the power in that and so should you.
This Black Friday, show yourself your own understanding and sense of worth by purchasing the asset that will still be valuable in a hundred years. Buy gold.
Senior Staff Writer – Certified Gold Exchange