You and barrett drinking a lot of covfefe today, eh?
Anyway, I continue to be curious why people want to discount the gold runups of the 1970s and late 2000's
Well, you're so right, Sophie.
I would start by saying that I don't think Harry Browne made an error. There are smart people who like gold and smart people who don't like it. When you're playing with your own money, it leads to a lot more hand-wringing than merely reading a book and thinking, hmm, gold looks neat.
And while it's true that you could say the same about other assets, I suppose this has something to do with herd mentality. It's hard to shake the feeling that 10,000 Bogle fans can't be wrong. All those 60/40 portfolios that completely avoid gold and seem to be fine. (Yes, they might experience some pain in the future. One never knows). How many people have the converse, have gold and neither stocks nor bonds? Well, there's our technovelist. (sound of crickets)...and...a handful of people who aren't on the internet.
Let's say I did somebody wrong and my punishment is to sell everything and start a portfolio of pure treasuries. No problem. I could do that today
, even knowing that inflation would probably ruin my plans. Same scenario, all stocks: hmm, a little bit harder, but I'd probably thank whoever's forcing me to do this in the long run. Like that movie in which Bette Midler's character thanks her captors for kidnapping her, because she finally lost weight exercising while chained up in their basement. All gold: yikes. I don't know.(Could you answer my t-bill question now? :-)
Never mind, Tyler got it.)
Etymology of "dismantle"- to pull down castle walls, but to lit. pull down a cloak.
"'Your life is tedious and brief.' All sundial mottos are sad like that."